look news india
Mumbai: Former ICICI Bank CEO Chanda Kochhar has filed an application in the Bombay High Court seeking permission to direct the Serious Fraud Investigation Officer (SFIO) to conduct the investigation only during office hours.
Expressing concern over the time and hours of investigation in the loan fraud case with Videocon, Koch sought the said direction from the court. After the summons was issued on November 5, the summons for questioning was received on November 14 after office hours on November 22. Like the ED, the SFIO should also be restricted to conducting inquiries during office hours.
The court has adjourned the hearing till November 27 and given time to the CFIO to decide on issuing instructions to limit the interrogation to office hours like ED.
Meanwhile, the CFIO assured the court that no coercive action would be taken against Kochhar and the questioning would be conducted during office hours on November 22. Kochhar’s husband Deepak Kochhar also filed a similar application in October. On October 25, the court ordered and gave him interim relief.
The conduct of Videocon Industries and 12 associate companies is being investigated in the Videocon fraud case against the Kochhar couple. The government started the investigation in July 2021. In which Chanda Kochhar was working as the Managing Director and Chief Executive Officer of the bank, while ICICI Bank had given Videocon Group an amount of Rs. A case related to a loan of Rs 3200 crore is involved.
