Business Standard

Kochhars appear before ED again in Videocon case

IANS  |  New Delhi 

Former MD and and her husband on Tuesday appeared before the for questioning in connection with its ongoing investigation into Rs 1,875-crore Videocon loan case.

After facing over nine hours of questioning on Monday, the Kochhars arrived at the earlier in Khan Market area.

On Monday, the Kochhars were quizzed about their business dealings with the promoter and and also about the financial transactions that took place between them.

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 into crores of rupees routed to NuPower, a company run by

The Kochhars were questioned on many occasions last month in This is their first appearance before the ED in the national capital.

In March, the ED had conducted a series of searches at the residence and office premises of Kochhars and also questioned along with Dhoot.

Allegedly, Dhoot had invested in 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 had proceeded to declare the Rs 2,810 crore of unpaid loan as non-performing asset (NPA).

--IANS

aks/in

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

First Published: Tue, May 14 2019. 12:38 IST
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