Videocon loan was ICICI credit panel decision: Chanda Kochhar to ED
ICICI Bank former chief executive officer and managing director (CEO and MD) Chanda Kochhar has denied at least nine charges levelled by the Enforcement Directorate (ED) during her interrogation in connection with quid pro quo and violation of anti-money laundering laws, said a senior official.
According to the official, she maintained her stand saying she was not solely responsible for sanctioning loans to corporates, and that it was a collective decision of the entire credit committee. However, the agency rebutted the argument, saying it has found strong evidence of quid pro quo in lieu of loans to companies. The agency has established that the Kochhar family (Chanda Kochhar and husband Deepak Kochhar) got kickbacks in the case, the official added.
