The ED’s action against Kochhar comes before the filing of a chargesheet in the case, in which sources in the anti-money laundering agency claim that they decided to take a businessman named Deepak Kochhar, whose company ICICI Bank, in lieu of money from the bank Was getting Loan to detained Videocon group due to refusal to cooperate.
Sources said that Kochhar and Dhoot are dodging specific questions about the “Quid Pro Quo” set up by Money Trail. A senior officer involved in the investigation said, “We have ascertained the amount of bribe paid by Khoot to Kochhar.
The source said that during their interrogation, Chanda Kochhar and Dhoot were dog-like despite being confronted with the transaction details of the alleged pro-mapping Ma. In January, the ED linked Kochar’s assets to Rs 78 crore as “proceeds of crime”.
In its provisional attachment order, the ED accused the banker and her husband of receiving Rs 64 crore from Videocon in Nuover Renewables Ltd owned by Deepak Kochhar. The amount was transferred a day later to the account of NuPower Renewables in September 2009 Led by Chanda Kochhar ICICI Bank approves Rs 300 crore loan Videocon International Electronics Limited.
Chanda Kochhar is accused of sanctioning “illegal loans” of Rs 1,875 crore to the Videocon group of companies. It was the CBI that filed an FIR against the former CEO of ICICI Bank and her husband on January 22, 2019.
Based on a CBI FIR, the ED launched an investigation under the Prevention of Money Laundering Act, allegedly involving two crore Mauritius-based entities in their Nupower Renewables to Deepak Kochhar for Rs. Chanda Kochhar was instrumental in ICICI Bank refinancing heavy loans to Videocon Group, which later turned into non-performing assets for the bank.
In return, Kochhar and his family allegedly got an apartment in Mumbai valued at Rs 75 crore, owned by a Videocon group company. The ED did this by way of acquiring the company at a nominal price through the family trust of Chanda Kochhar by making a book entry, as per its provisional attachment order. A book entry refers to phony transactions that are not supported by actual exchange of money.
Video: ICICI-Videocon case: ED arrested Chanda Kochhar’s husband for money laundering