ICICI Bank’s Former chief Chanda Kochhar Appeared Before The ED for Questioning

ED received evidence related to illegal transactions in which crores of rupees were paid to Newpower
ICICI Bank’s Former chief Chanda Kochhar Appeared Before The ED for Questioning

Former ICICI Bank chief Chanda Kochhar appeared before the ED on Monday for questioning in the Videocon loan case. Kochhar reached at ED office at 10.35 in the morning. On October 5, Kochhar did not appear before the ED, the Economic Investigation Agency sent the summons to him for lodging his statement last week.

This case relates to alleged financial irregularities and corrupt action in granting loans of Rs 1,875 crore to Videocon Group by ICICI Bank during 2009 and 2011. ED received evidence related to illegal transactions in which crores of rupees were paid to Newpower

The ED had conducted a series of investigations of Kotter's accommodation and office premises under its investigation in March and along with Chanda and her husband, Deepak Kochhar also interrogated Videocon Group promoter Venugopal Dhoot. Dhoot had allegedly invested in Deepak's company Nippavar Reinvables Ltd through its company Supreme Energy, in exchange for which Chanda Kochhar approved a loan from ICICI Bank.

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