Lawstreet Journal

“Prima Facie Misused her Official Position”: Former ICICI Bank MD and CEO Chanda Kochhar and Husband summoned by PMLA Court [READ ORDER]

Lawstreet Journal 5 Feb 2021 5:58pm

Image courtesy: Lawstreet Journal Judiciary “Prima Facie Misused her Official Position”: Former ICICI Bank MD and CEO Chanda Kochhar and Husband summoned by PMLA Court [READ ORDER]

An investigation complaint was filed by the Enforcement Directorate in the multi-crore scam (under the Prevention of Money Laundering Act, 2002) against former ICICI Bank MD and CEO Chanda Kochhar and 10 others, including the Videocon Industries Ltd's Managing Direction VN Dhoot, Kochhar and her husband.

Taking the cognizance of the same, a special court observed that Chanda Kochhar had prima facie misused her official position in granting loans to accused Videocon group of companies and received illegal gratification through her husband Deepak Kochhar.

Special Judge Abhijeet Nandgaonkar  issued proceedings against all the 11 accused in the case. They have been sent summons for the offences under section 4 (money laundering) of the Prevention of Money Laundering Act, 2002. Leave has also been also granted to the ED to continue with the ongoing investigation and to take action thereon as per law.

It is also transpired that, accused Mrs. Chanda Kochhar and her family have enjoyed facilities from accused Mr. V.N. Dhoot and/or Videocon Group of Companies,” the court observed.

The court also observed that Mrs. Chanda Kochhar and Mr. Deepak Kochhar were long associated with Mr. V.N. Dhoot and while issuing process, the learned judge thus stated:

After going through the submissions, written complaints and statements recorded under PMLA, it appears that, accused Ms. Chanda Kochhar had misused her official position in granting loan to accused Mr. V.N. Dhoot and/or Videocon group companies and got illegal gratification/undue advantage through her husband accused Mr. Deepak Kochhar, per-se quid-pro-quo web-transactions, created by the accused… Continue Reading...


Tagged: ICICI Bank  
Disclaimer: SoOLEGAL in Media collaboration with Lawstreet Journal. SoOLEGAL take no responsbility for the content provided by Lawstreet Journal. For any discrepancies Contact Lawstreet Journal.
Did you find this write up useful? YES 0 NO 0
×

C2RMTo Know More

Something Awesome Is In The Work

0

DAYS

0

HOURS

0

MINUTES

0

SECONDS

Sign-up and we will notify you of our launch.
We’ll also give some discount for your effort :)

* We won’t use your email for spam, just to notify you of our launch.
×

SAARTHTo Know More

Launching Soon : SAARTH, your complete client, case, practise & document management SAAS application with direct client chat feature.

If you want to know more give us a Call at :+91 98109 29455 or Mail info@soolegal.com