The Central Bureau of Investigation (CBI) has issued lookout circulars (LOC) against former ICICI Bank chief executive and managing director Chanda Kochhar, her husband Deepak Kochhar, and Videocon Group's Venugopal Dhoot. The development comes weeks after the Enforcement Directorate (ED) registered a criminal case against them for alleged money laundering .
At the behest of the CBI, lookout circulars were issued against Kochhar's husband and Dhoot for all airports last year. According to The Economics Times, this is the first time LOC has been issued against Chanda Kochhar.
“LOCs were filed after the FIR and are mandatory in cases where such economic offences are alleged. In recent times, keeping an eye on travel plans is a top concern for regulators,” ET quoted the official as saying.
Earlier this month, ED had registered a criminal case for alleged money laundering against Kochhar, her husband, Venugopal Dhoot, and others, to probe alleged irregularities and corrupt practices in sanctioning a Rs 1,875-crore loan by the bank to the corporate group.
They said the central probe agency had filed an Enforcement Case Information Report (ECIR) under the Prevention of Money Laundering Act, taking cognizance of a CBI complaint filed on the matter last month.
An ECIR is the ED's equivalent of a police FIR.
The officials said the agency would probe if alleged kickbacks generated in the loan deal were laundered to create tainted assets.
The ED is soon expected to summon the accused named in the ECIR. The list of accused in the ED case is the same as that of the CBI, they said.