New Delhi / Mumbai, 7 September
The Enforcement Directorate (ED) on Monday arrested Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, in the ICICI Bank loan case.
“Deepak Kochhar has been arrested under the Prevention of Money Laundering Act after a long interrogation,” a top ED official told IANS. He was arrested by the Mumbai branch of the Financial Investigation Agency.
The ED has taken action against Videocon director Venugopal Dhoot, his companies (Videocon International Electronics Limited and Videocon Industries Limited) nearly a year after the ED filed a case of money laundering last year on the basis of a complaint filed by the CBI. Bank CEO Chanda Kochhar and her husband Deepak.
Earlier this year, ED attached movable and immovable assets worth Rs 78.15 crore in the possession of former managing director and CEO of ICICI Bank, her husband and the companies controlled / owned by him.
During the investigation, it was revealed that a loan of Rs 1,730 crore sanctioned to Videocon Industries Limited (VIL) and its group companies was refinanced and fresh loan and these loans were non-performing for ICICI Bank on March 30, 2017. Became an asset (NPA).
The investigation revealed that out of the Rs 300 crore loan sanctioned by Chanda Kochhar, a committee headed by Videocon International Electronics Ltd, an amount of Rs 64 crore was transferred to Nupower Renewables Pvt Ltd (NRPL), formerly NuPower Renewables Ltd. Was known as A company of Deepak Kochhar) on September 8, 2009, a day after the loan was disbursed by ICICI Bank, by VIL.
In addition, NTR generated a net revenue of Rs 10.65 crore from these tainted funds. Therefore, offenses / incomes amounting to Rs 74.65 crore were transferred to NRPL.
The investigation also revealed that Chanda Kochhar and her family acquired an apartment in Mumbai owned by one of the Videocon Group companies, by making a book entry at a nominal cost to the company through their family trust Received.
Accordingly, Nupower Renewables Private Limited, in the name of its subsidiaries, a flat in Mumbai (book value of Rs 3.5 crore), and an amount of Rs 10.5 lakh, which has already been seized by Deepak Kochhar’s company ED It has assets worth Rs 74.54 crore. The proceeds of crime amounting to a total of 78.15 crores have been provisionally attached under PMLA. – IANS