Of these, two transactions involve monies received by Deepak from his wife and former ICICI bank chief Chanda Kochhar and her sister, said people with direct knowledge of the matter.
Before Deepak Kochhar’s arrest on Monday, the federal agency had asked Deepak Kochhar to explain the said nine transactions. These include a receipt of Rs 2.2 crores from Chanda Kochhar on November 19, 2010 which was transferred to CL-Trust Estate JV (or Turf Estate) on November 23, 2010. And a receipt of Rs 1.4 crores (appox) from Karna Varuna Jaiprakash (sister of Chanda Kochhar) on January 14, 2016.
These two transactions were carried out from Deepak Kochhar’s HDFC bank account in Mumbai. People quoted above told ET that ED had sought clarification of these two transactions, among others, from Deepak Kochhar.
Another transaction involving Deepak Kochhar’s HDFC Mumbai bank account included a receipt of one crore rupees from Daisy Finvest Private Limited on February 20, 2014. Daisy Finvest is a subsidiary company of Deepak Kochhar’s M/s Pacific Capital.
The other six transactions which are being probed by the ED, as part of its money laundering probe involving Kochhars, include receipt and transfer(s) of nearly Rs 4 crores by Deepak Kochhar’s three companies.
These are: M/s Pacific Capital Services Private Limited (PCSPL); M/s Opel Properties Private Limited (OPPL) and NuPower Renewables.
Transactions carried out from Deepak Kochhar’s ICICI bank, Mumbai account wherein an amount of Rs 65,000 was received from PCSPL in July 2008 is being probed. Another amount of Rs 20 lakhs received from Opel Properties on July 2, 2008 was transferred to Nupower on July 4, 2008 which is under ED’s scanner.
Further, bank transactions carried out from Deepak Kochhar’s DBS Bank, Mumbai are also under the radar, said people quoted above.
These include an amount of Rs 40 lakhs received from Opel Properties Limited in June 2009 out of which Rs 39 lakhs was transferred to NRL on June 27, 2009.
Another receipt of Rs 75,000 from Opel Properties Limited in January 2010 also remains unexplained.
An amount of two crores received from Opel Properties Limited in March 2010 and transferred to NRL on the same day is also being investigated. Also, an amount of Rs 40 lakhs (appox) transferred to Opel Properties Pvt Ltd in March 2010 is being examined.
On the basis of Deepak Kochhar’s statement, recorded in July by ED, the federal agency had shot off two reminders to Deepak Kochhar in August seeking details of “list of companies/entities/person” for which he was an authorised signatory of the bank accounts and the period for which he remained the authorised signatory.
Further ED had sought details of all transactions carried out by Deepak Kochhar with his company M/s Pacific Services Private Limited (PCSPL) and its (Pacific) subsidiary company M/s Opel Properties Private Limited (OPPL). The agency had sought the date of transactions, amount involved, and purpose for the said transactions.
Also, details of nine transactions carried out by Deepak Kochhar from his DBS Bank account with OPPL, PCSPL and NRPL (Nupower Renewables Private Limited) during the period June 2009 to March 2010 were sought.
The ED had registered a money-laundering case in February last year, days after the Central Bureau of Investigation booked the Kochhars and Videocon Group managing director Venugopal Dhoot over an alleged quid pro quo deal in loan transactions between ICICI Bank and the conglomerate.
The CBI accused former bank chief Kochhar of allegedly receiving “illegal gratification” from Videocon through her husband for sanctioning a term loan of Rs 300 crore. The ED probed how they allegedly laundered the money.
The Kochhars and Venugopal Dhoot of Videocon have denied the allegations by both the CBI and the ED.
The ED had also claimed that the Kochhar family acquired an apartment in Mumbai from the Videocon Group at a below-market price. The total value of assets thus acquired, which it termed as “proceeds of crime,” was Rs 78.15 crore, the ED said.
During her questioning by the ED last year, Kochhar denied any wrongdoing and said the loan approval was a collective decision and not that of an individual.
“The flat at CCI Chambers was conveyed from Bilquis Jahan Begum to me and my brother in February 1996,” Deepak Kochhar had told ET in February last year. “Since then, I have been the owner and occupant till date. The conveyance deed and share certificate reflect the same”. Dhoot denied being part of the deal.
“It (the flat) was owned by the Kochhar family from the beginning and we never ever had any ownership or other interest in the said flat,” he had said.