The Enforcement Directorate (ED) which is investigating a money-laundering case against Videocon Group chairman VN Dhoot, former MD & CEO, ICICI bank Chanda Kochhar and her husband Deepak is carrying out multi-city raids in connection with the case, informed sources.
As per the sources, raids are currently underway at the Mumbai office of Videocon and the south-Mumbai residence of the Kochhar. The Kochhars are also being probed by the Central Bureau of Investigation (CBI) in connection to allegations of criminal conspiracy, misuse of office and quid-pro-quo. The raids by ED are being conducted on the basis of offence which has been registered by CBI on January 22 against nine entities, including the Kochhars and Videocon Dhoot.
Chanda has been accused by CBI of allegedly receiving “illegal gratification” through Deepak from Dhoot “for sanctioning a term loan of Rs 300 crore to Videocon International Electronics Ltd (VIEL)”. Her alleged role in influencing decisions regarding expenses in relevant committees of the bank has also come under the CBI scanner.
Based on CBI request, a Look out Circular (LoC) was issued recently, against Chanda. The LoC against her husband Deepak and Videocon chairman, VN Dhoot which was at the time when the agency was conducting a preliminary enquiry (PE) was updated to ‘being detained and handover over to the agency in the event they try to travel abroad’, sources said. The move was to refrain the trio from fleeing the country, informed sources.