Slam dunk and an airtight case where the investigators have probable cause and clear collusion between Videocon's Dhoot and Kochhars.
In Brothers Kochhars case, the missing link is Sharad Mhatre. In hot pursuit of the paper trail of family enterprise, IANS has now found that two investment companies, Elegant Investrade Pvt Ltd and Daisy Finvest, were used by the Kochhars to further their business interests. Elegant was incorporated on January 29, 1997 by Ms Savita Naik and Mr Sidharth Jadhav for Rs 20.
The trace-back begins with Modern Fashions, which was one of the principal shareholders in the two Kochhar Brothers Credential twins, along with ABS Components Pvt Ltd and KG Computers Pvt Ltd which were the other two.
They have been questioned in the past too at the agency's office in Mumbai after the central agency conducted raids in this case on March 1.
The first Credential Finance Ltd (CFL) was birthed on January 23, 1985 as Bloomfield Builders & Construction at Mumbai RoC (Registrar of Companies) with registration No. 035149. By 1994, it fell into the hands of the Kochhars, who renamed it Credential Finance Ltd.
Pacific Capital Services Pvt Ltd is under inspection and a separate report is ready for submission by government agencies.
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 during 2009 and 2011.
The ED had registered a case of money laundering in February on the basis of a CBI FIR. In January, the CBI had raided four locations in Mumbai related to the case.
The agency, in a statement, said it is "conducting searches under PMLA at the premises of Chanda Kochhar, former chairman ICICI Bank, and Venugopal Dhoot of Videocon Group in Mumbai and Aurangabad respectively."
The Central Bureau of Investigation (CBI) sources said the agency would initiate the summons as it had completed the scrutiny of documents it had seized during the January 24 raids carried out at four locations in Maharashtra.
Apart from the bonus received by Kochhar as the bank's executive head since 2009, she will also have to forgo her unexercised stocks options.
The enquiry report submitted by Justice (Retd) B N Srikrishna Wednesday concluded that there was lack of diligence with respect to annual disclosures and violation of code of conduct, on her part.
Advised by union minister Arun Jaitley to avoid "adventurism", the CBI will start calling suspects in the ICICI Bank case involving its former CEO Chanda Kochhar for questioning after completing scrutiny of documents seized during searches last week, officials said on Monday.
An agency source said that Mishra, a Superintendent of Police in Central Bureau of Investigation (CBI) and was part of the Banking and Securities Fraud Cell (BSFC), was transferred to the agency's Economic Offences wing on January 23.
The CBI has alleged Rs 300 crore loan was disbursed on September 7, 2009 and the next day Dhoot transferred Rs 64 crore to Nupower Renewables Ltd, through Supreme Energy founded by him.
On Thursday, the investigative agency carried out searches at multiple locations after registering a case.
The CBI registered the preliminary enquiry after news reports raised questions about Videocon Chairman Venugopal Dhoot allegedly providing crores of rupees to a firm promoted by Deepak Kochhar.
The board of the bank has accepted the request of Kochhar to seek early retirement, according to a regulatory filing.
SEBI's statement comes after the market dealings of the ICICI Bank and Kochhar family have come under the regulatory sense of both SEBI and various other agencies.
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