ICICI Bank-Videocon case: ED arrests Chanda Kochhar’s husband Deepak

#India #ICICIBank #Videoconcase #ChandaKochhar

New Delhi, Sep 07 (ANI): Enforcement Directorate (ED) has arrested Deepak Kochhar, husband of former ICICI Bank MD and CEO Chanda Kochhar in connection with the ICICI Bank-Videocon case, said officials on Monday. Earlier in the day, ED had called Deepak Kochhar for questioning to its Delhi office. The case pertains to the alleged misappropriation cited in loans given by the ICICI Bank to Videocon. In January this year, the agency had provisionally attached movable and immovable assets consisting of flat, land, seized cash, plant and machinery, located in Tamil Nadu and Maharashtra, totaling Rs 78.15 crore in possession of former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar and the companies owned or controlled by him. The assets were attached under the Prevention of Money Laundering Act (PMLA) in ICICI Bank loan case. ED initiated an investigation after registering a case under PMLA on the basis of FIR for illegal sanctioning loans amounting to Rs 1,875 crore to Videocon Group of companies.
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