New Delhi, April 7: A lookout notice against ICICI Bank MD and CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group promoter Venugopal Dhoot has been issued at all airports in connection with a case of Rs 3,250 crore loan to the Videocon Group in 2012. The look out circular (LOC) was reportedly sent at the behest of the Central Bureau of Investigation (CBI).
According to a reports of Indian Express, if a person a under investigation attempts to board any flight to leave the country, Immigration can inform the concerned agencies (CBI and Income Tax) as the probe is at a preliminary stage and no FIR has been registered so far. Government sources informed that daily that the look out circular against Deepak Kochhar and Dhoot has been issued to ensure that they do not leave the country before the CBI completes its preliminary enquiry.
Meanwhile, the CBI on Friday questioned ICICI Bank CEO and MD Chanda Kochhar’s brother-in-law Rajiv Kochhar for a second consecutive day. Informed sources said the CBI was probing Rajiv Kochhar’s link over allegations pertaining to his Singapore-based company Avista Advisory’s dealings with the ICICI Bank. On Thursday, the CBI had interrogated Rajiv Kochhar for over five hours in connection with the case. He was on Thursday stopped at Mumbai airport by immigration authorities around 11 a.m. while he was about to leave for Singapore. Later, he was handed over to a CBI team which brought him to its Bandra office for questioning him in connection with its preliminary enquiry against his brother Deepak Kochhar and Videocon Chairman Venugopal Dhoot.
About Videocon-ICICI Loan Row:
Media reports earlier this month highlighted an alleged involvement of Chanda Kochhar and her family members in a loan provided to Videocon group on quid pro quo basis. Soon after, Indian Investors Protection Council Trustee Arvind Gupta said the evidence in the case pointed out that Chanda Kochhar was herself a beneficiary of the loan, and said her husband Deepak Kochhar is an indirect beneficiary of the loan granted to Videocon.
(With agency inputs)