Deepak Kochhar was arrested on Monday over alleged cash laundering
New Delhi:
Deepak Kochhar, the husband of former ICICI Financial institution CEO Chanda Kochhar, has been despatched to 10-day custody of the Enforcement Directorate for alleged money-laundering. Mr Kochhar was arrested by the Enforcement Directorate yesterday after 9 hours of questioning.
He was produced earlier than an anti-corruption court docket in Mumbai earlier than he was despatched to the Enforcement Directorate’s custody until September 19.
The probe company has not summoned Chanda Kochhar.
“Deepak Kochhar has not been cooperating with the investigation, so his custodial interrogation was wanted,” an individual concerned within the investigation advised NDTV, asking to not be named.
In 2012, ICICI Financial institution below Ms Kochhar gave a mortgage of Rs 3,250 crore to Videocon Group. Six months later, industrialist Venugopal Dhoot’s Supreme Vitality gave a mortgage of Rs 64 crore to NuPower Renewables, through which Mr Kochhar has 50 per cent stake. Investigators have stated this Rs 64 crore was quid professional quo.
Ms Kochhar give up as ICICI CEO practically two years in the past as a result of investigation. The Kochhars have denied all prices in opposition to them.
In its request looking for Mr Kochhar’s custody, the Enforcement Directorate stated he had been “completely non-cooperative, evasive and deceptive through the investigation”.
Final yr, the Enforcement Directorate carried out searches on Ms Kochhar’s properties and people linked to Videocon. Videocon’s managing director has additionally denied any wrongdoing.
In January this yr, ICICI Financial institution filed a petition within the Bombay Excessive Courtroom looking for restoration of bonuses given to Ms Kochhar. Ms Kochhar had challenged the “termination” of her employment by the nation’s second-largest personal financial institution final yr, which had blocked her remuneration over allegations of granting “out-of-turn” loans.
