ICICI bank does not ask CEO Chanda Kochhar to go on leave
ICICI bank does not ask CEO Chanda Kochhar to go on leave

ED searches Chanda Kochhar, Venugopal Dhoot’s homes

Agency News

Delhi: Close on the heels of the release of look-out notice by CBI, the Enforcement Directorate officials have made searches in the homes and offices of former ICICI Bank chief executive Chanda Kochhar and Videocon managing director Venugopal Dhoot related to the loan case.

The Central Bureau of Investigation(CBI) has already issued a look-out circular against Chanda Kochhar and against her husband Deepak Kochhar and Venugopal Dhoot. Look-out circulars are notices sent to transit points like airports to restrict the movement of people under investigation by probe agencies.

The case is related to a big loan given by ICICI Bank to Videocon MD Venugopla Dhoot when Chanda Kochhar was the CEO of ICICI bank. It is learnt that as a quid pro quo, Venugopal Dhoot extended a financial help to Chanda Kochchar’s husband, Deepak Kochhar. Mr Dhoot also allegedly invested crores of rupees in NuPower Renewables, a company founded by Ms Kochhar's husband.

The CBI is currently examining evidence collected during searches at the homes and offices of the three accused right after a First Information Report (FIR) was filed against them last month.