Enforcement Directorate Vs Chanda Kocchar
According to the prevention of the Money Wellundering Act (PMLA), Appellate Tribunal has retained the connection to the Enforcement Directorate (ED) of assets related to former Icici Bank CEO Chanda Khanda Kochhar of the VideoCon Loan Loan case. Ed had first seized at a price of 78.15 crore, including apartments, Bhoomi and Kokhar, her husband Deepak Kochhar and regular deposits associated with related companies. The Board confirmed that the associated assets were "income from crime", which was associated with alleged irregularities in loan approval to VideoCon Group companies by ICICI Bank. The decision comes as a big boost when it comes to ED, and claims that Kwid Pro Quo round and interests during Kochhar's term of office.The reigning high profile is an important step in India's efforts to cut down on economic behavior.
The Key points
- The PMLA tribunal confirmed the EDS asset connection to Chanda Kochhar.
- Property worth the 78.15 crore associated with the Kochhar family was seized.
- Flat, land and fixed deposits are included.
- Edocon loan in fraud, Ed Property calls "crime income".
- Tribunal ED's investigation and withdrawal of assets supports.
- In this case, Icici Bank's loan has been included in the VideoCon Group.
- The claims include KWID Pro Quo and money laundering.
- High -profile bank strengthens EDS attitude in scams.
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