ICICI-Videocon case: ED summons Kochhar, husband at Delhi

India

23 Apr 2019

ED summons Chanda Kochhar, husband in Delhi in ICICI-Videocon case

The ED has summoned former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar next week in Delhi in connection with a money laundering case related to a bank loan fraud, officials said.

They said while Chanda has been summoned for May 3, Deepak and his brother Rajiv have been asked to depose on April 30 before the investigating officer of the case.

Details

Summons were served to the trio last week

Chanda, Deepak, and Rajiv have to record their statements under the Prevention of Money Laundering Act (PMLA), said the officials.

The summons were served to them last week, they added.

They are required to assist the IO (investigating officer) in taking the probe forward, said officials, adding the three have been asked to bring certain documents related to their personal and official finances.

ED started questioning them after conducting raids on March 1

They have been questioned in the past too at ED's Mumbai office after the central agency conducted raids in this case on March 1. The searches were conducted at the premises of Chanda, her family and Venugopal Dhoot of Videocon Group in Mumbai and Aurangabad.

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Action

ED action was based on a CBI FIR

The ED has registered a criminal case under the PMLA early this year against Chanda, Deepak, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning of Rs. 1,875 crore loans by ICICI Bank to the corporate group.

This ED action was based on a CBI FIR. In the FIR, the CBI has named all the three and the Dhoot's companies.

CBI named the trio and their companies in its FIR

The CBI has named all the three and Dhoot's companies -- Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL). The CBI also named Supreme Energy, a company founded by Dhoot, and NuPower Renewables, a company controlled by Deepak Kochhar, in the FIR.

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Chanda Kochhar

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ICICI Bank CEO Chanda Kochhar

Venugopal Dhoot

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