The Enforcement Directorate (ED), while probing the companies owned by former ICICI Bank chief Chanda Kochhar’s husband, Deepak Kochhar, and the Videocon group, has found these firms had appointed at least half a dozen “dummy” directors who had nothing to do with the core operations and decisions.
They were kept to hide ownership, evade tax and launder money, according to an official involved in the money laundering probe into Rs 3,250-crore ICICI-Videocon loan matter. Enforcement sleuths are learnt to have recorded statements of these directors, who admitted they were dummy representatives and that they had signed on many documents according to the instruction of their bosses.
Among others, Lakshmikant Sudhakar Katore, who was on board of Real Cleantech Private (RCPL), a Videocon group firm, was a gardener in the house of Venugopal Dhoot, chairman of Videocon Industries.
