Begin typing your search above and press return to search.
proflie-avatar
Login
exit_to_app
Democracy that banks on the electorate
access_time 28 March 2024 5:34 AM GMT
Lessons to learn from Moscow terror attack
access_time 27 March 2024 6:10 AM GMT
Gaza
access_time 26 March 2024 4:34 AM GMT
The poison is not in words, but inside
access_time 25 March 2024 5:42 AM GMT
A witchhunt, plain and simple
access_time 23 March 2024 9:35 AM GMT
DEEP READ
Schools breeding hatred
access_time 14 Sep 2023 10:37 AM GMT
Ukraine
access_time 16 Aug 2023 5:46 AM GMT
Ramadan: Its essence and lessons
access_time 13 March 2024 9:24 AM GMT
When ‘Jai Sree Ram’ becomes a death call
access_time 15 Feb 2024 9:54 AM GMT
exit_to_app
Homechevron_rightBusinesschevron_rightICICI-Videocon case:...

ICICI-Videocon case: ED raids Kochhar, Dhoot homes

text_fields
bookmark_border
alt
cancel
camera_alt"

New Delhi:  The Enforcement Directorate (ED) on Friday carried simultaneous raids at the residences of former ICICI Bank CEO Chanda Kochhar and Videocon Group promoter Venugopal Dhoot in connection with an ongoing probe into alleged irregularities and corrupt practices in sanctioning of Rs 1,875 crore loan by the bank to the corporate group.

The agency searched Kochhar's south Mumbai and Dhoot's Aurangabad residence. 

Earlier the Central Bureau of Investigation (CBI) had searched Nupower Renewables and Dhoot's office in Mumbai and Aurangabad.

This is the first time that the ED conducted a raid at the Kochhar residence.

The ED had registered a case of money laundering in February on the basis of a CBI FIR. In January, the CBI had raided four locations in Mumbai related to the case.

Kochhar is accused of "sanctioning loans to private companies in a criminal conspiracy with other accused to cheat the ICICI Bank". 

The FIR followed a preliminary enquiry (PE) instituted on March 31, 2018, against Chanda Kochhar's husband Deepak Kochhar, Videocon Group officials and others to determine whether any wrongdoing was involved in the sanctioning of loan by the ICICI Bank as part of a consortium. 

In January, Justice B.N. Srikrishna Committee that probed the allegations against Kochhar found that she violated the bank's code of conduct in dealing with conflict of interest and fiduciary duties in the case of loans to Videocon that had routed a part of the money to a company owned by her husband Deepak.

Show Full Article
News Summary - ICICI-Videocon case: ED raids Kochhar, Dhoot homes
Next Story