Businessman and the spouse of previous ICICI Bank MD and CEO Chanda Kochhar was arrested by the Enforcement Directorate on Monday, in association with the ICICI Bank-Videocon credit case.
The organization had, in January final year, enrolled a case under the Avoidance of Cash Laundering Act, 2002, on the basis of an FIR registered by the Central Bureau of Investigation for charged unlawful authorizing of loans measuring to Rs 1,875 crore to the Videocon Group of Companies.
According to the Enforcement Directorate, Investigation had revealed that Chanda Kochhar and her family obtained the flat at Mumbai claimed by a company of the Videocon Group, by way of acquiring that company through her family trust at a nominal cost by creating book sections.