The Ministry of Corporate Affairs (MCA) has reportedly found at least 25 violations of the Companies Act by Venugopal Dhoot-led Videocon Industries and NuPower Renewables, a company controlled by Deepak Kochhar, a media report said.
The Mint report added that the violations, however, "do not pertain to transactions where charges of conflict of interest and quid pro quo have been levelled." It further said that the MCA findings will be submitted to the finance ministry later this week.
On Monday, former ICICI Bank chief executive officer Chanda Kochhar, appearing before the Enforcement Directorate (ED) in Mumbai, distanced herself from husband Deepak Kochhar’s business dealings, Moneycontrol reported.
The report added that Chanda Kochhar maintained the same stance is her questioning by the Central Bureau of Investigation (CBI) and MCA.
The MCA started inspection of NuPower Renewables and five other companies linked to the ICICI Bank controversy in 2018.
Union Minister PP Chaudhary had said the ministry ordered inspection under Section 206(5) of the Companies Act, 2013 on 23 April, 2018 with respect to six companies linked to the ICICI Bank controversy.
Section 206 provides powers to call for information, inspect books and conduct inquiries.
According to Section 206 (5), the central government may, if it is satisfied that the circumstances so warrant, direct inspection of books and papers of a company by an inspector appointed by it for the purpose.
On 2 March, Chanda Kochhar and Deepak Kochhar appeared before the ED in Mumbai in connection with a money-laundering case related to a bank loan fraud.
The ED on 1 March conducted searches at the premises of Chanda Kochhar, former chairman ICICI Bank, and Venugopal Dhoot of Videocon Group in Mumbai and Aurangabad, respectively. A total of five premises were covered, officials said.
The ED registered a criminal case under the PMLA early this year against Chanda Kochhar, Deepak Kochhar, Dhoot and others to probe alleged irregularities and corrupt practices in sanctioning of Rs 1,875-crore loans by ICICI Bank to the corporate group.
The CBI has named all the three and Dhoot's companies - Videocon International Electronics Ltd (VIEL) and Videocon Industries Limited (VIL). The CBI also named Supreme Energy, a company founded by Dhoot, and NuPower Renewables, a company controlled by Deepak Kochhar, in the FIR.
With PTI inputs
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Updated Date: Mar 06, 2019 17:46:13 IST