Former ICICI Bank CEO Chanda Kochhar arrives to appear before Enforcement Directorate (ED) in connection with a bank loan fraud and money laundering case probe, in New Delhi, Monday, May 13, 2019. Express Photo by Tashi Tobgyal.
The Enforcement Directorate (ED) Friday provisionally attached Rs 78 crore worth properties of former MD and CEO of ICICI Bank Chanda Kochhar and her family in connection with a money-laundering probe, PTI reported.
A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued for attachment of properties like flat, land, and plant and machinery of a wind farm project based in Tamil Nadu and Maharashtra.
These assets, the Enforcement Directorate (ED) said in a statement, are "in possession" of Kochhar, her husband Deepak Kochhar and the companies owned and controlled by him.
"Assets amounting to Rs. 74.54 crores held in the name of M/s Nupower Renewables Pvt. Ltd. & its subsidiaries; flat located at Mumbai (book value of Rs. 3.5 crores); and amount of Rs. 10.5 lakhs already seized by ED from the company of Deepak Kochhar, totaling to Rs. 78.15 crores being proceeds of crime have been provisionally attached by ED under PMLA. Further investigation, in this case, is under progress," the statement said.
The ED had registered a criminal case under PMLA earlier this year against Kochhar's, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning Rs 1,875-crore of loans by ICICI Bank to the Videocon.
The case registration was based on an FIR registered by the CBI, which has named all the three and Dhoot’s companies — Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL) — in its case.