CBI issues look out notice against Chanda Kochhar
The CBI has issued a notice barring foreign travel of former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar and MD of the Videocon Group Venugopal Dhoot, accused in a corruption case, officials said here Friday. The move to issue a look out notice was taken nearly a week after a case was registered against Chanda Kochhar, Deepak and Dhoot to ensure that none of these people, alleged to be involved in corruption in clearing loans worth Rs 1,875 crore to the Videocon Group, were able to leave the country, the officials said. A look out notice is sent to immigration authorities to ensure that any accused person is detained and handed over to the prosecuting agency. The Central Bureau of Investigation had to cut a sorry figure after its dilution of look out circular against liquor baron Vijay Mallya led to his escape to the UK in 2016. No summons have been issued against Chanda Kochhar to record her statement so far, they said. It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees. In its FIR, the CBI has also named several top honchos of the banking industry, alleging that they were also members of the sanctioning committees whose role needs investigation. Chanda Kochhar was on the sanctioning committee deciding two loans-Rs 300 crore to Videocon International Electronics on August 26, 2009 and Rs 750 crore to Videocon Industries Limited on October 31, 2011, the FIR has alleged. The loans were issued in the alleged violation of laid down policies and regulations of the bank, it alleged. Most of these loans became non-performing assets over the course, causing a loss of Rs 1,730 crore to the bank, it alleged. PTI
