ED seeks Deepak Kochhar custody, says ‘elaborate web of entitities’ held Rs 64 crore
THE ENFORCEMENT Directorate (ED), while seeking custody of Deepak Kochhar — the husband of former ICICI Bank MD and CEO Chanda Kochhar — before a Mumbai court Tuesday, claimed that an “elaborate web of entities” was created to hold the amount of Rs 64 crore, received as alleged “illegal gratification” from Videocon Group for sanction of a Rs 300 crore loan by ICICI Bank in 2009.
The ED, which arrested Deepak on Monday, said in its remand application that he had remained “evasive and non-cooperative”. Additional Solicitor General Anil Singh, with special public prosecutor Sunil Gonsalves, submitted that hence his custodial interrogation was necessary to “decipher the money trail, ascertaining further proceeds of crime” and determining the roles of other accused.
