The Enforcement Directorate (ED), in an appeal filed before the Prevention of Money Laundering Act (PMLA) tribunal last week, sought to establish that ICICI Bank\u2019s former managing director and chief executive officer Chanda Kochhar had close links with the Videocon Group that she did not disclose to the bank.<\/p>\n
The agency is investigating Kochhar\u2019s role in sanctioning loans to Videocon in return for the latter\u2019s promoter, Venugopal Dhoot, investing in her husband\u2019s companies. The case, based on a whistleblower complaint, was responsible for Kocchar\u2019s exit from the bank.<\/p>\n
ED\u2019s latest disclosure came when it challenged the November 6 order of its own Adjudicating Authority (AA) under PMLA, Tushar V Shah, who dismissed the attachment of properties worth Rs 78 crore belonging to Kochhar and her husband Deepak Kochhar. While asserting that ED had failed to establish these as the proceeds of crime, Shah termed the investment of \u20b964 crore in Deepak Kochhar\u2019s Nupower Renewables Ltd (NRL) by Venugopal Dhoot\u2019s SEPL (Supreme Energy Pvt Ltd) as a business transaction.<\/p>\n","protected":false},"excerpt":{"rendered":"
The Enforcement Directorate (ED), in an appeal filed before the Prevention of Money Laundering Act (PMLA) tribunal last week, sought to establish that ICICI Bank\u2019s former managing director and chief executive officer Chanda Kochhar had close links with the Videocon Group that she did not disclose to the bank. The agency is investigating Kochhar\u2019s role in sanctioning loans to Videocon in return for the latter\u2019s promoter, Venugopal Dhoot, investing in her husband\u2019s companies. The case, based on a whistleblower complaint, was responsible for Kocchar\u2019s exit from the bank. ED\u2019s latest disclosure came when it challenged the November 6 order of […]<\/p>\n","protected":false},"author":44,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[141,130,236],"tags":[],"class_list":["post-387610","post","type-post","status-publish","format-standard","hentry","category-hindustantimes","category-newspapers","category-power-hindustantimes"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387610","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/44"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=387610"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/387610\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=387610"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=387610"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=387610"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}