The Central Bureau of Investigation has issued a look-out circular against former ICICI Bank chief executive Chanda Kochhar and has revived ones against her husband Deepak Kochhar and Videocon managing director Venugopal Dhoot. Look-out circulars are notices sent to transit points like airport to restrict the movement of people under investigation by probe agencies. Last month, the CBI has registered an FIR against the three people over allegations of irregularities in providing loans to Videocon Group when Chanda Kochhar was heading the private sector bank.
A senior CBI officer said, “A week after the registration of FIR against Chanda Kochhar, we opened a look-out circular against her and revived the look-out circulars issues against Deepak Kochhar and Venugopal Dhoot last year.” The officer said the agency is currently examining evidence collected during searches at the homes and offices of the accused right after the FIR was registered. Documents submitted by ICICI Bank too are being studied. Once these documents are examined, the Kochhars and Venugopal will be questioned. Chanda had quit as CEO and managing director of ICICI Bank in October last year over allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company, in the bank's lending practices.
Chanda Kochhar has been accused of criminal conspiracy and cheating by the CBI for alleged irregularities in a loan of £325 million in 2012 to the Videocon Group, a legacy firm which has become a non-performing asset for the ICICI Bank. A whistleblower alleged that Deepak and her family members benefited from the dealings.
