look news india
Mumbai: The ED has recently issued a circular directing officials to conduct inquiries during office hours. Meanwhile, Deepak Kochhar, who is facing investigation in the Videocon case, has filed a petition in the Bombay High Court seeking a similar direction to the Serious Fraud Investigation Office (SFIO).
The ED has recently issued an internal circular under the Prevention of Money Laundering Act (PMLA) to conduct such inquiries only during office hours. Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, has now sought similar directions for the SFIO. On October 25, the court had given interim relief by ordering not to take strict action against Deepak Kochhar.
The court passed this order after the SFIO had assured the court that the investigation would not be conducted after office hours.
The operations of Videocon Industries and 12 associate companies are under investigation. The government started the investigation in July 2021. In which Chanda Kochhar, working as the Managing Director and Chief Executive Officer of the bank, gave Rs. 10,000 to Videocon Group. A case related to a loan of Rs 3200 crore is involved.
On October 22, Kochhar was interrogated for 12 hours. When he was called for questioning again on 28 October, he expressed concerns before the court. Kochhar's lawyer argued that the SFIO should not be allowed to detain or interrogate him after office hours. There were also fears that Kochhar might face arrest. The court has fixed further hearing on November 13.