Deepak Kochhar, businessman, and husband of former ICICI Bank CEO Chanda Kochhar has been arrested by the Enforcement Directorate in a case pertaining to money laundering in loans given by ICICI Bank to Videocon group.
Reports said Deepak was earlier called for questioning in Delhi and later was questioned by a team of ED officials in Mumbai on Monday (September 7) after he refused to fly to the capital, citing COVID concerns.
He was reportedly arrested later on Monday night after he did not cooperate in the interrogation. He will be presented before an anti-money laundering court on Tuesday (September 8).
Last year, the agency as part of its probe into alleged irregularities in the sanction of ₹1,875 crore loans by ICICI bank, had filed a criminal case under the Prevention of Money Laundering Act against Deepak, his wife Chanda and Venugopal Dhoot of Videocon Group.
ED is also probing charges of money laundering in two other cases in which loans were given by ICICI bank to Sterling Biotech, a Gujarat-based pharmaceutical firm and Bhusan Steel Group, when Chanda Kochhar was heading the bank.
The agency in June had attached assets worth ₹78.15 crore of Kochhar – including flats, land, cash and machinery in Tamil Nadu and Maharashtra.
The ED had filed a case in the matter based on an FIR by the CBI in January this year. The CBI had alleged Chanda Kochhar of granting loans to the tune of hundreds of crores of rupees to Videocon Group “in contravention of rules and policy” and “by abusing her position”.