Chanda Kochhar property seized: The Enforcement Directorate has provisionally attached property and shares of former ICICI Bank Managing Director Chanda Kochhar. She is presently being probed for cash for loan scam by CBI and ED. Total assets worth Rs. 78 crore (book value) have been attached. ANI has reported that several of Chand Kochhar and her family's properties have been attached. This includes her Mumbai flat and properties of the company of her husband.
A provisional order under the Prevention of Money Laundering Act (PMLA) has been issued for attachment of the properties.
ED has questioned the Kochhars number of times in the past. The case is related to the alleged irregularities and corrupt practices in the sanction of a Rs 1,875-crore loan disbursed by ICICI Bank to the Videocon Group between 2009 and 2011. The ED alleges that while heading ICICI Bank, Chanda Kochhar illegally routed crores of rupees to NuPower Renewables Ltd, a company run by her husband Deepak Kochhar.
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