BUSINESS

Kochhars Appear Before ED Again In Videocon Case

Kochhars

 

New Delhi: Former ICICI Bank MD and CEO Kochhars on Tuesday appeared before the Enforcement Directorate for questioning in connection with its ongoing investigation into Rs 1,875-crore Videocon loan case. After facing over nine hours of questioning on Monday, the Kochhars arrived at the ED headquarters earlier in Khan Market area.  On Monday, the Kochhars were quizzed about their business dealings with the Videocon group promoter and chairman Venugopal Dhoot and also about the financial transactions that took place between them.

The case is related to the alleged irregularities and corrupt practices in the sanction of a Rs 1,875-crore loan disbursed by ICICI Bank to the Videocon Group during 2009 and 2011.

The ED got clues about an illegal transaction running into crores of rupees routed to NuPower, a company run by Deepak Kochhar. The Kochhar’s were questioned on many occasions last month in Mumbai. This is their first appearance before the ED in the national capital. (IANS)

 

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