ED seizes ex-ICICI bank CEO Chanda Kochhar's properties worth Rs 78 crore
New Delhi | Jagran Business Desk: Enforcement Directorate has attached properties of former MD & CEO of ICICI Bank Chanda Kochhar and her family. Total assets worth Rs. 78 crore (book value) have been attached. This includes her flat in Mumbai and some properties of the company of his husband. The book value of these properties is Rs 78 crore, while the market value is Rs 600 crore.
"A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued for attachment of the properties that includes Kochhar's Mumbai-based house and some other assets belonging to a company linked to her," officials told PTI.
Kochhar is being investigated for a loan fraud.
The ED had registered a criminal case in February last year against Videocon chairman Venugopal Dhoot, Chanda Kochhar, her husband Deepak Kochhar and others to probe alleged irregularities and corrupt practices in sanctioning Rs 3,250-crore loan by the bank to the corporate group.
A probe was initiated in the case to find out if alleged kickbacks were generated in the loan deal and laundered to create tainted asset.
India's third-largest lender, ICICI Bank, in January last year had found the former chief executive guilty of violating internal bank policies and professional misconduct.
The former MD and CEO of ICICI Bank had stepped down from her post from ICICI Bank on October 4, 2018. She had defended herself before the ED in March 2019 saying the loans were given on merit and have no link to her husband's business.
Last year, the CBI has issed a circular to airports against Kocchar and her husband and venugopal Dhoot of Videocon group to ensure they cannot travel out of the country.
Kochhar was one of India's most celebrated bankers and arguably the most prominent female CEO in India. In 2009, at the age of 48, she beat several other strong candidates to become chief executive.
(with agency inputs)
Posted By: James Kuanal