ICICI Bank-Videocon case: ED summons Chanda Kochhar, Venugopal Dhoot for questioning

ICICI Bank-Videocon case: ED summons Chanda Kochhar, Venugopal Dhoot for questioning

ANIUpdated: Wednesday, May 29, 2019, 01:43 AM IST
article-image

Mumbai: The Enforcement Directorate (ED) has summoned former ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar on Saturday for questioning in connection with a loan case. The Videocon Group chief Venugopal Dhoot has also been summoned in the same case.

On Friday, the ED had searched premises of Chanda Kochhar and Venugopal Dhoot in Mumbai and Aurangabad respectively in connection with a money laundering case, an official said. The development comes weeks after the ED registered a criminal case against the two for alleged money laundering. The case was registered under the Prevention of Money Laundering (PMLA) Act.

On February 22, the Central Bureau of Investigation (CBI) had issued lookout circulars (LOCs) against Kochhar, her husband Deepak Kochhar and Videocon Group’s Managing Director Dhoot.

The LOCs were issued after the FIR was filed in the case. LOCs are mandatory in cases where such economic offences are alleged,” the official said, adding, “In recent times, keeping an eye on travel plans is a top concern for regulators.

The ED had registered a criminal case last month against Kochhar, her husband, Deepak Kochhar, Venugopal Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning of an Rs 3,250-crore loan by the bank to the corporate group. The CBI had filed a complaint last month and an Enforcement Case Information Report later under the PMLA.

The agency is probing if alleged kickbacks were generated in the loan deal and laundered to create tainted assets.

RECENT STORIES

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

Game-Changing Alliance: Ambani's Reliance Ventures Into Adani's Power For The First Time; Acquires...

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

SRM Contractors IPO Subscribed 86.57 Times On Last Day Of Bidding

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu..."; Here's How To Save...

Tax-Saving Tip From Zerodha CEO Nithin Kamath: 'If You're Married And Hindu...

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

Holy Cities Like Ayodhya, Varanasi Attracting Big Retail Brands: Report

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...

A Big Relief For Byju's: NCLT Rejects Investor Plea To Stay Byju's Rights Issue EGM On March 29 Amid...