The Enforcement Directorate (ED) has filed a chargesheet against Chanda Kochhar, ICICI Bank’s former chief executive officer and managing director, her husband Deepak Kochhar and Videocon Group chief Venugopal Dhoot, in a case allegedly involving credit facilities extended to group companies. The agency had arrested Mr. Kochhar in the same case in September. Mr. Kochhar, Mr. Dhoot and Saurabh Dhoot were earlier directors in NRL, which was set up in December 2008. In June 2009, the NRL shares of Mr. Dhoot and the Deepak Kochhar group were transferred to SEPL and it became 95% shareholder of NRL, it was alleged. According to the CBI, during Ms. Kochhar’s tenure, the bank had sanctioned six high-value loans to various Videocon Group entities between June 2009 and October 2011.

Source: The Hindu November 05, 2020 01:07 UTC