Chanda Kochhar, husband questioned over ICICI-Videocon loan case

Former ICICI bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar were questioned for eight hours by the Enforcement Directorate (ED) on Tuesday for the second consecutive day in connection with the ICICI-Videocon loan case. The Directorate has also called them for questioning tomorrow.

They were earlier grilled by the ED at its Mumbai office after the agency conducted raids in March at premises connected to them. Chanda Kochhar, who was summoned on May 3 by the ED, had sought an extension of time to appear before the agency. The ED had previously questioned Deepak Kochhar's brother Rajiv Kochhar from April 30 to May 2. According to ED sources, Rajiv Kochhar allegedly withheld crucial information pertaining to the case.

The matter related to alleged irregularities and corrupt practices in the sanction of a Rs 1,875 crore loan disbursed by ICICI Bank to Videocon Group in 2009 and 2011. The ED had on March 1 carried out searches at the premises of Pacific Capital Services Private Limited and Quality Techno Advisors Pvt Ltd. The duo holds stakes in the two companies.

The two firms have moved a petition in the PMLA appellate tribunal, seeking the release of documents which were allegedly seized by the ED on March 1. Videocon Group promoter Venugopal Dhoot has also been questioned in connection with the case. 

(With inputs from agencies.)