Chanda Kochhar’s Husband Deepak Arrested In M-L Case

Chanda Kochhar’s husband Deepak arrested in the money laundering case: ICICI-Videocon case. The Enforcement Directorate (ED) on Monday arrested Deepak Kochhar, the husband of former ICICI Bank CEO Chanda Kochhar, in the ICICI Bank-Videocon case. Earlier in the day, the ED summoned him to his Delhi office for questioning.

Authorities said on Monday that Deepak Kochhar has been arrested by the investigating agency under the Prevention of Money Laundering Act (PMLA). The case relates to an investigation into alleged irregularities in granting bank loans to Videocon Group and money laundering.

In January this year, the ED also seized movable and immovable assets worth Rs 78.15 crore from Chanda Kochhar, Deepak Kochhar, and companies owned and controlled by them. These include flats, land, cash, machines, and plants in Tamil Nadu and Maharashtra.

It is known that on the basis of the FIR lodged by Videocon Group of Companies for illegally sanctioning a loan of 1,875 crores, the ED had initiated an investigation by registering a case under PMLA

3250 crore loan case 

Deepak Kochhar’s arrest has been made by the ED in connection with a loan of Rs 3250 crore from ICICI Bank to Videocon Group chief Venugopal Dhoot.

This is the first major arrest in the case. The ED was investigating against 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 Chanda Kochhar and her husband, including the envoy. Chanda Kochhar’s brother-in-law was also questioned in this case.

What is the matter

According to the ED, the investigation revealed that out of the Rs 300 crore loan sanctioned to Videocon International Electronics Limited by a committee headed by Chanda Kochhar, Rs 64 crore was on September 8, 2009, by Deepak Kochhar-owned Npower Renewables Pvt Ltd (formerly Were transferred to Npower Renewables Ltd.).

Videocon transferred the amount a day after the loan was approved. After this, Deepak Kochhar’s company earned a revenue of Rs 10.65 crore from this amount.