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Weighed down by heavy debt, the Videocon group with 13 operating companies, was sent to bankruptcy court last year and a resolution is pending.
Investigative agencies should not treat all decision to sanction loans which have gone bad as crimes. Fear psychosis among bankers will kill lending.
The Enforcement Directorate (ED) had last month questioned and recorded the statements of Chanda Kochhar and her husband Deepak Kochhar over multiple sessions.
Kochhar arrived before the Enforcement Directorate's office here in Khan Market shortly before her scheduled appearance time of 11 am, official sources said.
This would make Videocon the biggest corporate bankruptcy case in India's banking history
A lookout circular is issued to check whether a traveller is wanted by the police, and aims to restrict them from leaving the country
The committee report concluded that there was a lack of diligence with respect to annual disclosures as required by the bank in terms of its internal policies.
Following the Justice BN Srikrishna panel report indicting Kochhar, the bank said that it will retrieve bonuses she received since 2009
The agency is also carrying out searches at the group headquarters in Mumbai and offices in Aurangabad.
It is alleged that Videocon promoter Venugopal Dhoot allegedly invested crores of Rupees in Nupower months after the Videocon group got Rs 3,250 crore as loan from the ICICI Bank in 2012.
The search operation started on Thursday morning and also covered offices of Nupower, a company operated by ICICI Bank's former CEO Chanda Kochhar's husband Deepak Kochhar and Supreme Power.
These firms have not made required submissions to the exchange as per listing regulations within the prescribed time limit for the quarter ended September 2018.
The common process adviser is expected to coordinate among RPs of Videocon companies and committee of creditors
The lenders plan to recover at least 50-55 percent, or Rs 230-300 crore, of the total loan value of Rs 450 crore that had been lent to VOVL
The proposal was discussed by all the lenders, led by State Bank of India, in a meeting on September 17 where many stakeholders gave inputs as to how this process can be made simpler
Under consent proceedings, parties involved in disputes with SEBI can settle them without admission of guilt. It is a quick alternate arrangement that avoids any courtroom battles relating to any legal dispute.
Chanda Kochhar, who recently stepped as CEO of ICICI Bank amid accusations of conflict of interest, has told the Securities and Exchange Board of India (SEBI) that she was not aware of any dealings between her husband and the Videocon Group.
The regulator had asked why ICICI Bank should be spared punitive action as it was seen as violating the Listing Obligations and Disclosure Requirements (LODR) regulations.
ICICI Bank had appointed retired Supreme Court judge BN Srikrishna to investigate allegations of conflict of interest and quid pro quo against Kochhar in the Videocon loan case.
We are at increased risk for inquiries or investigations by regulatory and enforcement authorities, which may adversely affect our reputation...or adversely affect our ability to conduct business
The final decision to appoint the consultants will be taken by Srikrishna, who is heading the independent enquiry panel
Videocon said demonetisation forced the company to shut the cathode ray tube television business, while its telecom business suffered losses after the SC cancelled 156 licenses of telecom operators.
The bank didn't reveal the content and timing of the anonymous whistleblower's complaint
"No communication to us, that is what we can say now," executive director NS Kannan told analysts over the customary post-earnings call on Monday, transcripts of which were posted on its website by the bank this evening.