Business Standard

Chanda Kochhar appears before ED for questioning

IANS  |  New Delhi 

Former chief on Monday appeared before the (ED) for questioning in connection with the Videocon loan case.

Kochhar arrived at the ED office here at 10.35 a.m.

Last week, the financial probe agency summoned Kochhar to record her statement after she failed to appear on May 5.

The case is related to the alleged irregularities and corrupt practices in the sanction of a Rs 1,875 crore loan disbursed by to the during 2009 and 2011. The ED got clues about an illegal transaction running to crores of rupees routed to NuPower.

In March, the ED had conducted a series of searches at the residence and office premises of the Kochhars as part of its investigations and also questioned Chanda and her husband along with promoter

Allegedly, Dhoot had invested in the company, through his firm as quid-pro-quo for loans cleared by the under

Out of the Rs 40,000 crore loan to the Videocon group, Rs 3,250 crore was given by ICICI Bank and a large portion of the loan by ICICI was unpaid at the end of 2017. The bank proceeded to declare the Rs 2,810 crore of unpaid loan as non-performing asset.

--IANS

aks/ksk

(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)

First Published: Mon, May 13 2019. 10:56 IST
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