03 Mar 2019
India’s financial crime fighting agency said on Friday it was conducting searches on properties of former ICICI Bank CEO Chanda Kochhar and a top executive of Videocon group, amid probes into suspected conflict of interest and misconduct.
Searches, under prevention of money laundering laws, were being conducted in Mumbai and Aurangabad, the Enforcement Directorate (ED) said on Twitter.
In January, India’s federal police, the Central Bureau of Investigation (CBI) filed a case of criminal conspiracy and fraud against Kochhar, her husband, and Videocon Managing Director Venugopal Dhoot alleging Kochhar had favoured Videocon, a consumer electronics and oil and gas exploration company, by violating the bank’s lending policies.
By Abhirup Roy, Reuters, 1 March 2019
Link to Reuters
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