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Not solely responsible for sanctioning loans to Videocon, Chanda Kochhar tells ED: report

Cha­nda Kochhar, former chief executive officer and managing director of ICICI Bank, who is at the centre of the Videocon loan deal controversy, has denied nine charges by the Enforcement Direct­orate (ED) during her interrogation in connection with the alleged violation of anti-money laundering laws, Business Standard reported, citing a senior official.

According to the report, the official said that Kochhar maintained that she was not solely responsible for sanctioning loans to corporates and that it was a decision taken collectively by the entire credit committee.

The ED has, however, said it found evidence of quid pro quo in lieu of loans to companies and affirmed the Kochhar family received bribes in the case, the report said.

Related NewsSources told the paper that Kochhar was interrogated for loans sanctioned to many corporates other than Videocon and Ess­ar and was also asked about the assets allegedly created out of the proce of crime.

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