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Former ICICI CEO Chanda Kochhar is required to assist the investigating officer and her statement will be recorded under the Prevention of Money Laundering Act (PMLA)
The ED on Friday conducted searches at the homes and offices of former ICICI bank chief Chanda Kochhar and her husband Deepak, and Videocon Group's Venugopal Dhoot in a bank loan fraud case.
Chanda Kochhar is accused of facilitating ICICI loans to Dhoot as quid pro quo for investments in her husband Deepak's company.
Money laundering case filed against former ICICI CEO Chanda Kochhar, husband, Videocon Venugopal Dhoot
The Enforcement Directirate has filed the case to probe alleged irregularities in the sanctioning of Rs 1,875-crore loans by ICICI bank to Videocon.
The ICICI Bank's directors who helped cultivate former CEO Chanda Kochhar's image of invincibility failed in their duty to uphold governance.
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ICICI Bank will treat Kochhar's resignation as 'Termination for Cause' and stop payment of unpaid benefits including bonus, said the bank.
Union minister Arun Jaitley recently cautioned the CBI against "investigative adventurism" after it filed an FIR against ICICI Bank Ltd's former CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group's Venugopal Dhoot. This after acting CBI director M. Nageswara Rao overturned the investigating officer's recommendation to close the preliminary enquiry against the Kochhars due to lack of evidence. ThePrint asks: CBI probe in Chanda Kochhar & ICICI case: Reckless adventurism or sincere activism? If the accused feels wronged, they can always go to the court and get the FIR quashed D. R. Karthikeyan Former CBI director It is true that the FIR needs to be filed on the basis of specific evidence against specific people -- it shouldn’t be a wild goose chase. The point of a preliminary enquiry is to establish an offence, if any, and look for prima facie evidence. In this particular case, plenty of things needed to have been established...
Superintendent of Police Sudhanshu Dhar Mishra is suspected of involvement in leaking information related to searches carried out by the agency.
A reason for poor conviction rate in India is that adventurism & megalomania overtakes investigators and professionalism takes a back seat, he said.