The Enforcement Directorate (ED) is probing at least six high-value loans sanctioned to firms between 2009 and 2011 when Chanda Kochhar was the chief executive officer and managing director at ICICI Bank. The probe agency suspects there have been kickbacks or illegal gratification for extending these loans.
The enforcement agency, interrogating Kochhar for the fourth consecutive day on Monday, said she had been cooperating in the investigation. However, she was not clear about certain transactions, it said. Also, she maintained she was not aware about the nuances of the business deals involving her husband Deepak Kochhar’s firms.
Some of these accounts which are under agency’s lens include $530 million (approximately Rs 3,763 crore) to Essar Steel Minnesota LLC, Millennium Appliances (Rs 175 crore), Sky Appliances (Rs 240 crore) Techno Electronics (Rs 110 crore), Applicomp India (Rs 300 crore) and Videocon Industries (Rs 750 crore).
