Chanda Kochhar, 10 others booked for ‘cheating’

New Delhi, December 28

A case has been registered against former ICICI Bank MD and CEO Chanda Kochhar in the national capital, accusing Kochhar and 10 others of cheating a private company, leading to a loss of Rs 27 crore. Economic Offence Wing of the Delhi Police registered an FIR on December 20, citing allegations of cheating and criminal conspiracy.

Patiala House Court on December 9 ordered the Delhi Police to file a case after the complaint of Shammi Ahluwalia, Director of P&R Overseas Pvt Limited (Tomato Magic). In his complaint, Ahluwalia has written that the accused allegedly conspired to project a fake ‘Letter of Credit’ by a ‘foreign bank’, as genuine.

The complainant said he received the ‘LoC’ through ICICI purportedly issued by the Royal Bank of Scotland (RBS). However, later it was found out the LoC was issued by a bank, RBS Alliance, Moscow, which had a bad track record.