Enforcement Directorate lens on Videocon firm’s Rs 7 cr guarantee for Deepak Kochhar Co
New Delhi: A performance guarantee of ₹7 crore given by a Videocon NSE 4.17 % group firm on behalf of a company belonging to Deepak Kochhar, the businessman husband of former ICICI Bank chief Chanda Kochhar, is under the scanner of the Enforcement Directorate (ED).
The agency had sought details of the performance guarantee before arresting Deepak Kochhar on Monday. The guarantee was valid from 2011 to 2016, as per documents gathered by ED. The agency is investigating an alleged quid pro quo deal in loan transactions between ICICI Bank and Videocon group.
