ED claims money trail nails Chanda Kochhar
The Enforcement Directorate has on the basis of available evidence concluded that ousted ICICI Bank CEO Chanda Kochhar was the sole beneficiary from amongst the bank officials in the alleged quid pro quo from loans extended to Matix Fertilisers.
India Today has learnt that Chanda Kochhar in her preliminary statement tried shifting the blame to other officials of ICICI Bank and maintained that the decision to grant loans to both the firms was taken by the loan sanction committee.
However, sources within the agency have told India Today that the Enforcement's Directorate's investigation has revealed that none of the other employees of ICICI Bank apart from Chanda Kochhar benefited directly or indirectly. Sources say, Chanda was unable to explain her case when confronted with documentary evidence by the interrogators.
The Enforcement Directorate claims to have established a money trail pointing towards a quid pro quo between the Kochhars and Venugopal Dhoot, promoter of Videocon.
It has been alleged that NuPower Renewables, owned by Chanda Kochhar's husband Deepak, received investments of Rs 64 crore from Videocon group and Rs 325 crore from Matix Fertilisers in 2010, soon after they were granted loans by ICICI Bank.
The Enforcement Directorate claims that they have evidence against Chanda Kochhar, who they have questioned for four days in the last few weeks. The agency is looking at Kochhar's role in two cases involving her husband Deepak Kochhar.