Money laundering
Ex-ICICI Bank CEO Chanda Kochhar's husband sent to 10-day ED custody
New Delhi/IBNS: Businessman Deepak Kochhar, who is the husband of former ICICI Bank CEO Chanda Kochhar, has been sent to 10-day custody of the Enforcement Directorate (ED) in connection with a money-laundering probe.
Kochhar was arrested on Monday by the ED after nine hours of questioning.
On Tuesday, he was produced before an anti-corruption court in Mumbai and was sent to the custody of the probe agency till September 19.
The ED has not summoned Chanda Kochhar yet.
Last year, the ED had filed a criminal case under the Prevention of Money Laundering Act (PMLA) Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group to investigate alleged irregularities and corrupt practices in sanctioning ₹ 1,875 crore in loans by ICICI Bank.
The probe agency had also attached assets worth Rs. 78 crore in connection with a money laundering case.
As per reports, since Deepak Kochhar was not cooperating with the agency, therefore he was placed under arrest.
Reports said Dhoot had provided Rs 64 crore to a firm called NuPower Renewables Pvt Ltd that he had set up with Deepak and two relatives six months after the Videocon group got Rs 3,250 crore as loan from ICICI Bank in 2012. Rs 2,810 crore of the loan remains unpaid.
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