pennews
www.pennews.net
ICICI bank does not ask CEO Chanda Kochhar to go on leave
ICICI bank does not ask CEO Chanda Kochhar to go on leave
National

ED questions Chanda Kochhar twice on Sunday  

Agency News

Former ICICI bank CEO Chanda Kochchar was questioned twice on Sunday in a loan case.

After questioning for hours by Enforcement Directorate(ED) officials till 4AM, she once again appeared in the ED office at noon for half an hour. Sources also said that her husband Deepak Kochhar and Videocon managing director Venugopal Dhoot are undergoing questioning by ED officials.

Earlier on Saturday also Chanda Kochhar and her husband appeared before ED official in Mumbai. CBI officials had issued a look-out notice against Chanda Kochhar, husband Deepak Kochhar and Videocon managing director Venugopal Dhoot . A couple of days back homes and offices of the Kochhars and Mr Dhoot were searched by the ED officials. The search at Ms Kochhar's premises went on till 8 pm on Friday, sources said. Venugopal Dhoot was questioned till 11 pm yesterday.

The case is related to a loan given by ICICI Bank to Videocon when Chanda Kochhar was heading the bank. Mr Dhoot allegedly invested Rs. 64 crore in NuPower Renewables, a company founded by Ms Kochhar's husband, a day after Videocon group was granted a loan of Rs. 200 crore by ICICI Bank. It was part of a Rs. 40,000-crore loan which Videocon got from a consortium of 20 banks led by State Bank of India. The Rs. 3,250 crore loan has become a non-performing asset for ICICI Bank. It is said that the ED is looking at money laundering angle also.