Chanda Kochhar's Husband Tests Covid +ve, Probe Officials Self-Quarantine

Mr Kochhar, one of the main accused in the ICICI-Videocon loan case, has been shifted to Delhi's AIIMS for treatment.

New Delhi:

Deepak Kochhar, who is in the Enforcement Directorate's custody over a money laundering case, has tested positive for coronavirus. The businessman - husband of former ICICI Bank chief Chanda Kochhar - was arrested last week after the agency - that investigates financial crimes - alleged he had not been cooperating during questioning.

Mr Kochhar, one of the main accused in the ICICI-Videocon loan case, has been shifted to Delhi's AIIMS for treatment. The ED officials who had questioned him have isolated themselves as a precaution against transmitting the deadly virus.

The businessman last week was produced before an anti-corruption court in Mumbai before he was sent to the Enforcement Directorate's custody till September 19.

The probe agency did not summon Chanda Kochhar, a co-accused in the case.

The case involves Rs 3,250 crore in loans given by the ICICI to the Videocon Group, controlled by the industrialist Venugopal Dhoot, when Ms Kochhar was leading the bank. Within months of sanctioning of the loans, Mr Dhoot's Supreme Energy had granted a loan of ₹ 64 crore to NuPower Renewables, in which Mr Kochhar has 50 per cent stake.

Investigators allege the Rs 64 crore loan to Mr Kochhar's company was part of a quid pro quo deal.

Chanda Kochhar had to step down as the ICICI CEO in 2018 because of the investigation. She had denied all charges against her and Mr Kochhar.

The CBI, which is also probing the case, in its preliminary investigations, found the loans granted were in alleged violation of the established policies. These loans were declared non-performing assets in 2012.

Earlier this year, ICICI bank had petitioned the Bombay High Court to recover bonuses given to the former CEO.

Ms Kochhar had challenged the "termination" of her employment.