Lookout Notices Issued For Chanda Kochhar, Husband and Dhoot

According to latest reports Lookout Notices have been issued against Videocon promoter Venugopal Dhoot, Deepak Kochhar, husband of ICICI Bank chief Chanda Kochhar and promoter of NuPower.

The Lookout notices sent to airports across the country by Central Bureau of Investigations also incudes Chanda Kochaar’s name.

The notice is to prevent the three from flying out of the country without knowledge of the authorities, CBI officials said.

The Backdrop
The case centres around bad loan amounting to Rs. 3,250 crore sanctioned by ICICI Bank to the Videocon group.

According to reports Videocon Group Chairman Dhoot allegedly paid Rs. 64 crore in 2010 through  NuPower Renewables Pvt Ltd (NRPL), and entity co-founded by Deepak Kochar.

Six months after receiving loan from ICICI bank, Dhoot allegedly transferred the proprietorship of the company to a trust owned by Deepak Kochhar.

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