ED finds Kochhar family received Rs 500 cr kickback, to seize assets

Chennai: The Enforcement Directorate (ED), which is investing the ICICI Bank-Videocon loan case, has established that Rs 500 crore was received as kickbacks by the bank’s former chief Chanda Kochhar and her family, reports state.

The authorities will soon seize Kochhar’s family assets created out of proceeds from the crime, said reports and added that at present, the enforcement agency is looking into the number of loans sanctioned by the bank and into the allegations of the funds being routed to Deepak Kocchar’s firm.

Reports also state the agency is planning to summon the people who were a part of the credit committee when ICICI Bank had to record their statements.

NT Bureau