Property worth Rs 78 cr of Chanda Kochhar & others attached by ED

Chanda Kochhar's properties attached

The Hush Post| 5:56 pm|one-minute-read|

The Enforcement Directorate on Friday attached the properties of former Managing Director and CEO of ICICI Bank Chanda Kochhar and her family. This is in connection with the alleged bank loan fraud and money laundering case.

Kochhar and her family have total assets worth Rs 78 crore (book value). This includes her flat in Mumbai and some properties of the company of her husband.

The ED has questioned Kochhars.

After the latest developments under the PMLA scheme, the ED order will be valid within 180 days of the attachment being issued until a court confirms it and allows it to make a final confiscation. The confiscation will be on the basis that properties made out of the proceeds of money laundering.

In 2019, the central agency had registered a criminal case under the PMLA. The case was against Chanda Kochhar, her husband Deepak Kochhar, Venugopal Dhoot of Videocon Group and others to probe alleged irregularities and corrupt practices in sanctioning Rs 3,250-crore loans by the ICICI Bank to the Videocon Group.

Kochhar had challenged her ouster from ICIC Bank. ICICI got a go-ahead by the Reserve Bank of India (RBI).

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