LOC issued against ICICI chief and family by CBI
There appears to be more trouble for ICICI Bank's CEO and MD Chanda Kochhar and her family as the CBI has issued a Lookout Circular (LOC). The LOC was issued against Chanda, her husband Deepak and Videocon chief Venugopal Dhoot.
Dhoot is accused of investing 10 per cent of the Rs 3,250 crore loan given to his companies by the ICICI Bank in a firm that was alleged promoted by Deepak Kochhar.
The LOC was issued at the behest of the CBI which had filed a preliminary enquiry against Deepak and Dhoot. This is a preemptive move on part of the CBI in the wake of several economic offenders fleeing the country.
The agency is expected to call on Chanda to record her statement next week. The CBI meanwhile questioned Chanda's brother in law, Rajiv Kochhar for nine hours. This was his second day of questioning.
Rajeev was detained for questioning at the Mumbai airport on Thursday when he was leaving for Singapore on a business trip. He is a promoter of Avista Advisory Services.