Money & Banking

ICICI-Videocon case: ED searches office, residential premises of Chanda Kochhar, Dhoot

Our Bureau | | Updated on: Mar 01, 2019
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The ED’s PMLA case was filed after taking cognisance of a CBI complaint lodged in the matter last month

The Enforcement Directorate on Friday carried out searches at the premises of former ICICI Bank Managing Director and CEO Chanda Kochhar and Videocon promoter Venugopal Dhoot.

“The Enforcement Directorate is conducting searches under PMLA (Prevention of Money Laundering Act) at the premises of Chanda Kochhar, former chairman of ICICI Bank, and Venugopal Dhoot of Videocon Group in Mumbai and Aurangabad, respectively,” the agency said in a statement.

Sources said the raids were carried out at least in five locations, including the residence of Kochhar. A team of ED sleuths, assisted by the police, were understood to be looking for more evidence in the case.

The ED had earlier this month registered a criminal case under PMLA against Kochhar, her husband Deepak Kochhar, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning of loans by ICICI Bank to Videocon group.

They are also being probed by the Central Bureau of Investigation, which has registered an FIR against several entities and persons, including Kochhar, her husband and Dhoot.

Published on March 01, 2019

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