The Enforcement Directorate (ED) has confirmed that the former Chief Executive Officer and Managing Director of ICICI Bank Chanda Kochhar and her family received kickbacks worth Rs 500 crore in lieu of various loans offered by the private lender to Videocon, reported Business Standard.
ED said it will soon seize Kochhar’s family assets bought out of proceeds of the alleged kickbacks.
The investigating agency had interrogated Chanda, her husband Deepak Kochhar, and Videocon Chairman Venugopal Dhoot in the Rs 3,250 crore loan case for three days last week, according to Business Today.
The agency is currently tracing the money trail and looking into the number of loans offered by the bank during Chanda Kochhar’s tenure which were reportedly routed to her husband’s company NuPower Renewables.
The agency is planning to summon the people who were part of the credit committee when ICICI Bank had to record their statements, according to Business Standard.
The CBI, which registered an FIR against Chanda in January has, however, not issued any notice to any of the accused named in the FIR.
As per the ED, Deepak Kochhar's NuPower Renewables received Rs 64 crore in 2010 via shell companies from Venugopal Dhoot, who in turn got loans worth over Rs 1,575 crore from ICICI Bank between 2009 and 2011.
(With inputs from Business Standard and Business Today)
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