Mumbai: The Central Bureau of Investigation (CBI) has issued lookout circulars (LOC) against former ICICI Bank CEO & MD Chanda Kochhar, her husband Deepak Kochhar, and Videocon MD Venugopal Dhoot. Enforcement Directorate (ED) had registered a criminal case against them on grounds of alleged money laundering.
According to the website of a leading daily, lookout circulars were issued against Kochhar’s husband and Dhoot for all airports last year. This is the first time LOC has been issued against Chanda Kochhar.
“LOCs were filed after the FIR and are mandatory in cases where such economic offences are alleged. In recent times, keeping an eye on travel plans is a top concern for regulators,” leading daily quoted the official saying.
Probe on alleged irregularities and corrupt practices in sanctioning a loan by the bank for Rs 1,875-crore to corporate group is being made. The officials said the agency would probe if alleged kickbacks generated in the loan deal were laundered to create tainted assets.
The ED is soon expected to summon the accused named in the ECIR an equivalent to an FIR for ED. The list of accused in the ED case is expected to be the same as that of the CBI.