The Enforcement Directorate (ED) has summoned former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar next week in connection with a money laundering case related to a bank loan fraud.
Sources said while Chanda has been asked to appear before officials on May 3, Deepak Kochchar and his brother Rajiv have been asked to depose on April 30 before the investigating agency's Mumbai office.
They will record their statements under the Prevention of Money Laundering Act (PMLA).
The loan controversy erupted after shareholder activist Arvind Gupta had alleged that Chanda Kochhar, sitting on the bank's credit committee in 2012, influenced a Rs 3,250 crore loan to the Videocon group in return for a deal in NuPower Renewables, a clean-energy firm run by her husband Deepak Kochhar.
The investigating agency is also probing several former and current senior executives of the bank, including current Managing Director and CEO of ICICI Bank Sandeep Bakshi and current chief of New Development Bank of BRICS KV Kamath.
Disclaimer: No Business Standard Journalist was involved in creation of this content
You’ve reached your limit of {{free_limit}} free articles this month.
Subscribe now for unlimited access.
Already subscribed? Log in
Subscribe to read the full story →
Smart Quarterly
₹900
3 Months
₹300/Month
Smart Essential
₹2,700
1 Year
₹225/Month
Super Saver
₹3,900
2 Years
₹162/Month
Renews automatically, cancel anytime
Here’s what’s included in our digital subscription plans
Exclusive premium stories online
Over 30 premium stories daily, handpicked by our editors
Complimentary Access to The New York Times
News, Games, Cooking, Audio, Wirecutter & The Athletic
Business Standard Epaper
Digital replica of our daily newspaper — with options to read, save, and share
Curated Newsletters
Insights on markets, finance, politics, tech, and more delivered to your inbox
Market Analysis & Investment Insights
In-depth market analysis & insights with access to The Smart Investor
Archives
Repository of articles and publications dating back to 1997
Ad-free Reading
Uninterrupted reading experience with no advertisements
Seamless Access Across All Devices
Access Business Standard across devices — mobile, tablet, or PC, via web or app