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CBI issues lookout notice against former ICICI Bank CEO Chanda Kochhar

Agencies
February 22, 2019

New Delhi, Feb 22: The CBI has issued lookout notices against former ICICI Bank CEO Chanda Kochhar, her husband Deepak and MD of the Videocon Group Venugopal Dhoot, officials said here Friday. 

The move was taken nearly a week after a case was registered against Chanda Kocchar, Deepak and Dhoot, they said.

The move is to ensure that none of the accused in the case related to alleged corruption in clearing loans worth Rs 1,875 crore to the Videocon Group were able to leave the country, the officials said.

A lookout notice is an intimation to immigration authorities at all the ports of exit to intimate the investigation agency incase the accused tries to leave the country. The immigration authorities may also detain the person if requested by the agency. 

The Central Bureau of Investigation had to cut a sorry figure after its dilution of lookout circular against liquor baron Vijay Mallya led to his escape to the UK in 2016. 

No summons have been issued against Chanda Kochhar to record her statement so far, they said.

It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.

In its FIR, the CBI has also named several top honchos of the banking industry, including the present CEO of ICICI Bank Sandeep Bakshi, alleging that they were also members of the sanctioning committees whose role needs investigation.

Chanda Kochhar was on the sanctioning committee deciding two loans-Rs 300 crore to Videocon International Electronics on August 26, 2009 and Rs 750 crore to Videocon Industries Limited on October 31, 2011, the FIR has alleged.

The loans were issued in the alleged violation of laid down policies and regulations of the bank, it alleged.

Most of these loans became non-performing assets over the course, causing a loss of Rs 1,730 crore to the bank, it alleged.

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Agencies
July 30,2020

New Delhi, Jul 30: Preparing for a long haul in the Eastern Ladakh sector in extreme winters, the Indian Army has an edge over the Chinese as it has deployed 35,000 troops there who have already done tenures in high altitude and cold conditions.

The Indian troops deployed there are mentally prepared for tackling the weather and terrain.
In contrast, the Chinese troops deployed along the Line of Actual Control (LAC) are not used to these conditions as they have been brought from mainland China and are not accustomed to high altitude extreme cold weather conditions.

"We are preparing to provide extreme cold weather portable cabins for around 35,000 troops that have been deployed in the Eastern Ladakh sector," government sources said.

"Our soldiers deployed there have already done a tenure or two in Siachen, Eastern Ladakh or Northeast and they are physically and mentally prepared for a longer deployment there," they said.

The Chinese soldiers deployed on the Indian front include mainly conscripts who join the PLA for a period of 2-3 years and then return to their normal lives, sources said.

Indian and Chinese troops are engaged in a standoff situation all along the LAC in Eastern Ladakh from sub-sector north with both sides having deployed around 40,000 troops against each other over there.

The two sides have disengaged at three friction points including Patrolling Point 14, PP-15 and PP-17 and PP-17A.

At PP-17 and 17A, the Chinese have now maintained a small element of close to 50 troops and the remaining elements have gone back into their permanent locations.

The sources said the Army is also not much bothered about the Chinese build-up along the LAC as it has got more than two additional divisions from outside Ladakh sector.

India Army has more troops than what the Chinese have brought there, they said.

For the winter deployment, the Army already has a sizeable stock of clothes and habitat for troops as the Indian army deploys troops at the world's highest battlefield Siachen glacier and is prepared.

For additional requirements, the force is in the process of placing orders for additional tents and shelters from indigenous as well as foreign vendors.

The time for summer stocking is on and we are going to get the additional cabins and tents by that time, the sources.

Months of June, July, and August are considered to be the best time for stocking winter rations and ammunition. The snowfall is expected to start soon in the Eastern Ladakh area where the temperature is already low.

Prime Minister Narendra Modi's government has given financial powers of Rs 500 crore per procurement to the defence forces to address any type of shortages of weapons, ammunition, and habitat.

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News Network
March 23,2020

New Delhi, Mar 23: The total number of COVID-19 cases in the country rose to 390 on Monday after 30 fresh cases were reported.

The figure includes 41 foreign nationals and the seven deaths reported so far.

Gujarat, Bihar and Maharahstra reported a death each on Sunday, while four fatalities were reported earlier from Karnataka, Delhi, Maharashtra and Punjab, the Union Health Ministry said.

The total number of active COVID-19 cases across the country now stands at 359, while 24 people have been cured/discharged/migrated.

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News Network
July 18,2020

Washington, Jul 18: The Foreign Direct Investment (FDI) from the US to India has crossed the $40 billion mark so far this year, reflecting the growing confidence of American companies in the country, the head of an India-centric business advocacy group has said.

The American companies, during the Covid-19 pandemic, which has battered the world economy, have shown great confidence in India and its leadership, said Mukesh Aghi, president of the US-India Strategic and Partnership Forum (USISPF), which keeps a track of the major US FDIs in India.

“Year to date investment from the US, including the recent ones, is over $40 billion,” Aghi said.

In recent weeks alone, the announcement of the FDI into India has been over $20 billion, he said, referring to the announcements made by some of the top companies like Google, Facebook and Walmart.

“Investors’ confidence in India is high. India still remains a very promising market for global investors. If you look at the $20 billion… not just the US, but (investment) has also come from other geographies such as the Middle East and the Far East.

“So, India still remains a very, very bullish market for the investor community,” Aghi said in response to a question.

The USISPF has been working with New Delhi to bring in FDI into India… playing a key role in encouraging American companies planning to move their bases out of China, he said, adding that the move was going on in the last three years of the Trump administration, but gained momentum during the coronavirus pandemic.

“We feel that Prime Minister (Narendra Modi’s) intention is very high. The challenges lie on the execution side. Efforts are being made to encourage manufacturing… I've never seen it so better. The policy framework is moving in the right direction,” he said.

Early this week, Larry Kudlow, the White House Economic Advisor, told reporters that the US tech giants like Google and Facebook announcing big investments in India shows that people are losing trust in China and India is emerging as a big competitor.

At the same time, he rued that India continues to be a protectionist country.

“The question is how do you define protectionism... the administration here is saying America first and India is saying vocal for local…,” Aghi added.

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