The Enforcement Directorate on Tuesday again quizzed former ICICI Bank managing director and chief executive officer Chanda Kochhar and her husband Deepak Kochhar in the Videocon Group loans case. They have been told to appear before the probe team on Wednesday.
The second round of questioning started around 11 a.m. and continued for several hours. The Kochhars have been asked to submit some more documents, according to an official.
The money laundering probe is being conducted on the basis of an FIR registered by the Central Bureau of Investigation, alleging that a quid pro quo of ₹64 crore was paid in the form of investments in the company of Ms. Kochhar’s husband for sanction of loans to some Videocon Group companies.
Videocon Group head Venugopal Dhoot allegedly invested the money in Nupower Renewables Limited through Supreme Energy Private Limited, which was later transferred to Pinnacle Energy Trust, another firm managed by Mr. Kochhar.
Six high-value loans sanctioned to the firms in question between June 2009 and October 2011 are under scrutiny. The outstanding amount as on April 26, 2012, were adjusted as another term loan of ₹1,730 crore under refinance of domestic debt scheme. However, the accounts became non-performing assets in June 2017, according to the CBI.