business

Lookout notice issued against Chanda Kochhar

In the Videocon loan case, the CBI (Central Bureau of Investigation) has issued a look out circular against former CEO and managing director of ICICI Bank Chanda Kochhar and Videocon Group’s Venugopal Dhoot.

Earlier, the Enforcement Directorate (ED) has filed cases against them in the alleged case of money laundering.

Officials said that this was a case of alleged irregularities in the case of debt of Rs 1,875 crore given to Videocon Group, and an attempt to ensure that the accused could not escape after leaving the country by issuing a lookout notice.

After the look-out notice is issued, the movement of the person becomes restricted.

Even after this notice, if an accused tries to get out of the country, the officer can take him/her into custody. He said that no summons have been issued to Chanda Kochhar for registering the statement so far.

It is noteworthy that due to a lack of lookout notice in 2016, liquor trader Vijay Mallya had managed to escape from the country by taking around 9,000 crore rupees of the banks. Taking lessons from this incident, the CBI has issued a look out notice while taking the initiative.

During the tenure of CEO of Chanda Kochhar, Videocon Group and its subsidiaries have been accused of alleged irregularities in granting loans of Rs 1,875 crore. Kochhar was involved in the committee, which approved the loan to the Videocon group.

Show More

Related Articles

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.