New Delhi: The Enforcement Directorate arrested Deepak Kochhar, the husband of former ICICI Bank CEO Chanda Kochhar, in connection with money laundering probe into loans disbursed to the Videocon Group.
The CBI in January 2019 filed a case of criminal conspiracy and fraud, alleging that ICICI Bank, under Chanda Kochhar, sanctioned “high value” loans to Videocon Industries, violating the bank’s lending policies, in exchange for an investment by the consumer electronics company’s owner in a business headed by Deepak Kochhar.
The couple has been questioned by the central probe agency in a case of alleged irregularities and money laundering in giving bank loans to the Videocon group.
The CBI had begun investigations into the matter in December 2017, after it initiated a preliminary enquiry. The enquiry probes allegations that ICICI Bank sanctioned credit facilities of about Rs 3,250 crore to Trend Electronics Ltd, Century Appliances Ltd, Kail Ltd, Value Industries Ltd and Evan Fraser and Co. India Ltd, all companies belonging to the Videocon group, the FIR states.
The couple is the prime accused in the case which allegedly involves disbursing loans to the tune of Rs 3,250 crore to Videocon group companies.
© 2024 Newsmax. All rights reserved.