National

Enforcement Directorate Arrests Former ICICI Bank CEO’s Spouse Deepak Kochhar

Chanda Kocchar Deepak Kocchar

Former CEO of ICICI Bank Chanda Kochhar was alleged to have facilitated the loan of Rs 3,250 crore to Videocon Group which invested in company of Deepak Kochhar.

 

Mumbai| The Enforcement Directorate (ED) today arrested Deepak Kochhar, husband of former ICICI Bank MD and CEO Chanda Kochhar, in the ICICI Bank-Videocon case. The ED is investigating Chanda Kochhar and her husband in connection with the money laundering by Videocon Group on behalf of ICICI Bank. Many others, including Videocon Group chairman Venugopal Dhoot, are also under investigation.

The top ED official was quoted by a news agency as saying that Deepak Kochhar has been arrested under the Prevention of Money Laundering Act (PMLA) after a day-long interrogation. He was arrested by the Mumbai branch of the Financial Investigation Agency.

Former CEO of ICICI Bank Chanda Kochhar was alleged to have facilitated the loan of Rs 3,250 crore to Videocon Group. Chanda Kochhar is accused of discrimination and benefiting Videocon Group. The ED had registered a criminal case in this case in February 2019. Under this, seizure action was taken.

ED had attached assets worth Rs 78 crore to Chanda Kochhar in January this year. These included Chanda’s home in Mumbai and the assets of her associated company. ED officials had said that a warrant was issued against Kochhar.

ICICI Bank gave a loan of Rs 3,250 crore to five companies of Videocon Group in April 2012. The group did not repay 86% of the loan, ie Rs 2810 crore. The loan was then declared NPA in 2017. The loan sanctioning committee included Chanda Kochhar. It is also alleged that Videocon Group MD Venugopal Dhoot had invested money in Deepak Kochhar’s company NuPower Renewables.

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“We Never Recognised So-Called Arunachal Pradesh”: China Foreign Ministry Spokesperson

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Stressing that it does not recognise the region of Arunachal Pradesh, China on Monday said it has no details about the five Indians missing from the region.

“China has never recognized so-called “Arunachal Pradesh,” which is China’s south Tibet region, and we have no details to release yet about question on Indian army sending a message to PLA about five missing Indians in the region,” Chinese FM spokesperson Zhao Lijian said today. His statement was reported by Chinese government’s mouthpiece Global Times.

Earlier, Chinese soldiers reportedly kidnapped five boys from a village in Arunachal Pradesh. There were two more people along with the boys who managed to save themselves. The incident is from Nacho region which falls in Subansiri district.

State Congress MLA Ninong Ering gave this information on Twitter and also gave the names of the abducted boys. Ering said, “Chinese soldiers have abducted five boys living in Nacho town. The incident happened at a time when Defense Minister Rajnath Singh is meeting the Defense Ministers of Russia and China. This act of the People’s Liberation Army will send a very wrong message. China must be given a suitable answer.”

According to the local media reports, all five of the abducted boys belong to the Tagin community. Chinese soldiers took them from the forest of Nacho area. This area falls in Subansiri district. Information about the incident was revealed through a relative of the abducted boy. After this, the Congress MLA took notice and tweeted. The names of the five abducted boys are Tok Singkam, Prasat Ringling, Dongtu Ibia, Tanu Baker and Nagaru Diri.

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