ICICI-Videocon Loan Case: Chanda Kochhar and Deepak Kochhar summoned by ED

Former ICICI Bank CEO and MD Chanda Kochhar appeared before Enforcement Directorate for the questioning in the connection with in connection with an alleged bank loan fraud and money laundering case registered against her.

Former ICICI Bank CEO arrived before the Enforcement Directorate’s office here in Khan Market on Monday. Chanda Kochhar and her husband Deepak Kochhar were summoned by Enforcement Directorate, in connection with ICICI-Videocon loan case.

What is the case all about?

ED raided Chanda Kochhar, his family and Venugopal Dhoot of Videocon Group's premises in Mumbai and Aurangabad.

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

This ED action was based on a CBI FIR. In its FIR, CBI has mentioned Kochhar's and Dhoot’s companies--Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL).

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