Chanda Kochhar''s brother-in-law detained at airport, questioned by CBI

Shiv Kumar

Tribune News Service

Mumbai, April 5

Rajiv Kochhar, brother-in-law of ICICI Bank MD & CEO Chanda Kochhar, was on Thursday stopped from boarding a flight to Singapore from Mumbai. He was picked up by investigators from the Central Bureau of Investigation who have taken him to an undisclosed destination for questioning.

According to sources, a look-out circular has been issued against Rajiv and other members of the Kochhar family so that none of them are able to leave the country. 

Following the flight of diamond merchant Nirav Modi, who is accused of defrauding Bank of Baroda of Rs 13,500 crores, immigration authorities at airports have been asked to prevent suspects in fraud cases from leaving the country. 

The CBI has filed for preliminary inquiry against Chanda Kochhar, her husband Deepak and brother-in-law Rajiv and others as part of a probe in the Rs 3,250-crore loan issued to the Videocon group in 2012.

The preliminary inquiry comes after media reports alleged that financial dealings of Deepak's companies coincided with the big loans made by ICICI Bank to Videocon.

Rajiv Kochhar, who runs a firm called Avista Advisory in Singapore is reported to have business dealings with several companies that had borrowed money from ICICI Bank but are now facing bankruptcy.