New Delhi: Enforcement Directorate (ED) has arrested Deepak Kochhar, husband of Chanda Kochhar, former managing director and CEO of ICICI Bank. This action has been taken in the ICICI Bank-Videocon case, which is linked to a loan of Rs 3,250 crore received by Videocon Group from ICICI Bank in the year 2012. This is the first major arrest in this case. In 2012, Videocon Group chief Venugopal Dhoot was given a loan of Rs 3250 crore from ICICI Bank. This loan was a part of a total of 40 thousand crores which was taken by Videocon Group from 20 banks under the leadership of SBI.
It is alleged that Venugopal Dhoot gave Rs 64 crore in 2010 to NewPower Renewables Private Limited (NRPL), which Dhoot had teamed up with Deepak Kochhar, the then MD and CEO of ICICI Bank and two other relatives. It is alleged that financial benefits were provided to the family members including Deepak Kochhar on behalf of the borrowers. Also, 6 months after getting the loan from ICICI Bank, Dhoot transferred the ownership of the company to a trust of Deepak Kochhar for Rs 9 lakh. Chanda Kochhar had to resign in October 2018 in connection with alleged misappropriation of loans to Videocon.
ED is investigating against the irregularities in the loan case given by Videocon Group to ICICI Bank and Chanda Kochhar, her husband Deepak Kochhar and many others in the money laundering case. A few days ago a lookout notice was issued against Dhoot, Chanda Kochhar and her husband. In January this year, ED took a big action against Chanda Kochhar and her family and seized a property worth Rs 78 crore. This included Kochhar’s flat in Mumbai and some of her husband’s properties.
