Whistleblower alleges kickbacks to Kochhar brothers; ED starts probe

ED starts probe into charges; Rajiv Kochhar says all allegations are false and baseless

In what can add to the troubles of former ICICI Bank managing director and chief executive officer Chanda Kochhar, Indian and Singapore investigators have received a fresh whistle-blower letter, alleging that her brother-in-law Rajiv Kochhar and her husband, Deepak Kochhar, “were running multiple companies in Singapore, Cayman Islands and India where they used to take kickbacks from various corporate promoters for loans sanctioned by ICICI Bank”.

In the letter to Indian investigating agencies, including the Enforcement Directorate (ED) and the Central Bureau of Investigation (CBI), the Singapore-based whistle-blower has claimed that “the primary activity of the firms was that of