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ICICI Bank Videocon loan case: British Virgin Islands says Deepak Kochhar account details lost in calamity, says report

ICICI Bank-Videocon loan case: British Virgin Islands says Deepak Kochhar account details lost in calamity, says report

ICICI Bank-Videocon loan case: British Virgin Islands says Deepak Kochhar account details lost in calamity, says report
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By CNBC-TV18 Apr 10, 2019 9:16:48 AM IST (Published)

The British Virgin Islands cited the reason that the account details of Deepak Kochhar have been destroyed in a natural calamity.

The British Virgin Islands (BVI) denied the request of the Income Tax department seeking some account information of Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar. BVI told I-T department that his account information has been lost in a natural calamity, sources to the Economic Times.

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Indian authorities are probing Deepak Kochhar in a money laundering and quid pro quo case related to ICICI Bank loans to Videocon group.
The tax department sent Letters Rogatory (LRs) to Mauritius, Singapore and BVI. Singapore replied to the queries, while a reply from Mauritius is awaited, the sources told the paper.
“The information given by Singapore has provided certain workable leads. We are also awaiting a response from Mauritius but aren’t hopeful that they will share it," the official source was quoted as saying.
The Enforcement Directorate (ED), the report said, sought this information for the first time sought details, two weeks ago, on the Videocon loan, the role of the sanctioning committee and the procedures followed.
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