The searches, sources said, were carried out in at least five offices and residential premises in Mumbai and a few other locations.
New Delhi: The Enforcement Directorate (ED) on Friday conducted searches at the premises of former CEO of the ICICI Bank, Chanda Kochhar and Videocon Group promoter Venugopal Dhoot in connection with a bank loan fraud case. The searches, sources said, were carried out in at least five offices and residential premises in Mumbai and a few other locations.
“Searches were conducted under the provisions of the Prevention of Money Laundering Act (PMLA) at the premises of Ms Kochhar and Mr Dhoot in Mumbai and Aurangabad respectively”, sources said. Ms Kochhar’s residence in South Mumbai was also brought under the action, they added.
Sources added Chanda Kochhar and her husband Deepak Kochhar’s brother-in-law were questioned by the sleuths during the operation. It is also believed that ED officials also had a similar interaction with Mr Dhoot. There was no information about any recoveries or seizures made by the search teams till late evening.
The ED had registered a criminal case under the PMLA earlier this month against Chanda Kochhar, her husband Deepak Kochhar, Mr Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning of `1,730 crore loans by ICICI Bank to the corporate group. The ED’s PMLA case was filed after taking cognisance of a CBI complaint lodged in the matter earlier this year. The CBI had named Chanda Kochhar, Deepak Kochhar, and Mr Dhoot and his companies — Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL) — in the case. The Central probe agency also named Supreme Energy, a company founded by Mr Dhoot, and Nupower Renewables, a company controlled by Deepak Kochhar, in the FIR.