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ED questions Chanda Kochhar for fourth straight day

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Mumbai, March 4 (IANS) The Enforcement Directorate (ED) on Monday questioned former ICICI Bank CEO Chanda Kochhar for the fourth consecutive day in the ongoing probe into the alleged irregularities and corrupt practices in sanctioning a Rs 1,875-crore loan by the bank to the Videocon Group.

Chanda Kochhar’s questioning began at ED’s office after she deposed before the investigators around noon.

The ED questioned Chanda Kochhar for the first time on March 1 at her south Mumbai residence along with her husband Deepak Kochhar. On Sunday she was questioned for the third straight day.

The agency on Sunday also quizzed Nishant Kanodia, chairman of Matix Group and son-in-law of Essar Group co-founder Ravi Ruia, regarding investments made by his Mauritius-based firm Firstland Holdings in NuPower Renewables Pvt Ltd, a company run by Deepak Kochhar.

Deepak Kochhar and Videocon Group promoter Venugopal Dhoot were on March 2 were quizzed till late night in the case.

The ED on March 1 also carried out raids under the Prevention of Money Laundering Act (PMLA) at five offices and houses owned by the Kochhars and Dhoot.

The ED started the probe after registering a criminal case under the PMLA in February against the Kochhars, Dhoot and others, taking cognizance of a first information report filed by the Central Bureau of Investigation.

The FIR named the Kochhars, Dhoot and his companies — Videocon International Electronics Ltd and Videocon Industries Ltd. It also included names of Supreme Energy, a company founded by Dhoot, and NuPower Renewable, a firm controlled by Deepak Kochhar.

The authorities are trying to determine whether any wrongdoing was involved in the sanctioning of the Rs 1,875 crore loan by the ICICI Bank as part of a consortium.

The CBI has alleged the ownership of the two companies changed hands through a complex web of share transactions between Deepak Kochhar and Dhoot.

It is alleged Dhoot invested in NuPower through his firm Supreme Energy, a quid pro quo to loans cleared by the ICICI Bank after Chanda Kochhar took over as the Chief Executive Officer on May 1, 2009.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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