The Enforcement Directorate (ED) has taken a major step in the ICICI Bank-Videocon case. The first charge sheet has been filed against Chanda Kochhar, former chief executive officer and managing director of ICICI Bank, her husband Deepak Kochhar and promoter of Videocon Group, Venugopal Dhoot. According to the information, the ED has filed this charge sheet under the sections of the Prevention of Money Laundering Act (PMLA).
After the CBI filed an FIR against Kochhar, Dhoot and others, the ED had filed a criminal case of money laundering. After this, the ED took Deepak Kochhar into custody in September. During this time, Deepak Kochhar was also found to be COVID-19 positive and was kept in hospital for some time. The ED has lodged charges against the Kochhar couple and their business unit for illegally allocating loans of Rs 1,875 crore to Videocon Group companies and money laundering.
According to the ED, the committee headed by Chanda Kochhar had allocated a loan of Rs 300 crore to Videocon International Electronics Limited. On the same day of receipt of this loan, on September 8, 2009, Videocon Industries Limited transferred an amount of Rs 64 crore to his husband's company, Newpower Renewable Private Limited (NRPL). NRPL was formerly known as Newpower Renewable Limited (NRL).
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