
NEET-UG paper leak case: ED raids underway in Ranchi, Patna
The ED raid still continues and many important clues related to it are expected to be unearthed. The agency is investigating the identity and money trail of other people involved in this entire racket.
According to ED sources, the agency is carrying out searches at multiple locations, including Bariatu in Ranchi and several locations in Patna, particularly those linked to relatives of the alleged mastermind, Sanjeev Mukhiya.
The raids are part of the ED's investigation into suspected money laundering related to the NEET paper leak.
The ED is now investigating the financial aspects of the case, which includes finding out how much illegal money was earned through the paper leak and how the money was transacted.

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Mint
an hour ago
- Mint
Ex-ICICI Bank CEO Chanda Kochhar held guilty of taking ₹64 crore bribe to greenlight ₹300 crore loan to Videocon: Report
Former ICICI Bank CEO Chanda Kochhar has been found guilty of receiving a bribe of ₹ 64 crore in exchange of sanctioning a ₹ 300 crore loan to Videocon Group, a report has said. According to the report by The Times of India, an appellate tribunal in New Delhi in an order dated July 3 observed that Kochhar took the bribe through her husband Deepak Kochhar and a company linked to the Videocon Group in a 'quid-pro-quo' arrangement. 'The history given by the appellants (ED) has been narrated and supported by the evidence in the light of the reference of the statements under Section 50 of the PMLA Act which are admissible and can be relied upon,' the tribunal said, as per the report. Backing the Enforcement Directorate (ED), the tribunal said that Deepak Kochhar was controlling the Videocon Group's operations at the time, making the allegations against the couple valid. 'The allegation made by the appellants stands because on paper ownership of NRPL is shown to be of V N Dhoot (CMD of Videocon group) but according to him also, the entire control of the company was of Deepak Kochhar (Chanda Kochhar's husband). Thus, the allegations were made for quid-pro-quo to Chanda Kochhar for sanction of loan to Videocon group of industries,' it said. The tribunal further upheld the ED's case accusing Chanda Kochhar of failing to disclose conflict of interests. 'The issue remains about the transfer of ₹ 64 crore by Videocon group through its entity SEPL to NRPL day after the disbursement of loan by ICICI Bank,' the report quoted the tribunal as saying. It was also observed that the approval of the ₹ 300 crore loan to the Videocon Group while Chanda Kochhar was part of the committee was against the policy of the ICICI Bank. The appellate tribunal slammed an adjudicating authority that had in November 2020 allowed the release of assets worth ₹ 78 crore belonging to Chanda Kochhar and her associates, TOI reported. 'The adjudicating authority has ignored the material facts while drawing the conclusions which are coming out on the face of the record and, therefore, we cannot endorse the finding of the adjudicating authority going against the record and ignoring the relevant facts,' the tribunal said.


India Today
an hour ago
- India Today
Chanda Kochhar found guilty in Rs 64-crore Videocon bribe case: Report
Former ICICI Bank CEO and MD Chanda Kochhar has been found guilty of receiving a Rs 64 crore bribe in return for approving a Rs 300 crore loan to the Videocon Group, reported The Times of appellate tribunal gave this ruling in an order dated July 3. The tribunal said that the money was routed through Kochhar's husband Deepak Kochhar, using a company connected to tribunal said the payment was a clear case of quid pro quo and supported the Enforcement Directorate's (ED) said the ED had provided strong documentary evidence and statements recorded under Section 50 of the Prevention of Money Laundering Act (PMLA), which were legally admissible. These, the tribunal said, clearly showed that Chanda Kochhar did not disclose her conflict of interest and that the loan approval violated ICICI Bank's internal tribunal explained that the Rs 64 crore was sent from Videocon's group company SEPL to NuPower Renewables Pvt Ltd (NRPL), a company controlled by Deepak Kochhar. This transaction took place just one day after ICICI Bank disbursed the Rs 300 crore loan to the ownership of NRPL was initially shown to be with Videocon's chairman Venugopal Dhoot, the tribunal observed that the real control rested with Deepak Kochhar, who also served as the managing director of the company. This, it said, clearly pointed to a conflict of interest, as Chanda Kochhar did not declare these ties when approving the tribunal said, as per the report, 'The allegations stand corroborated by evidence and the statements recorded under Section 50 of the PMLA Act.' It added that the money trail was direct and demonstrated misuse of power for personal tribunal also criticised a November 2020 decision by an adjudicating authority that had allowed the release of attached assets belonging to Chanda Kochhar and her family. The authority had found insufficient grounds to hold the assets, but the tribunal disagreed stated that the earlier authority had ignored key facts and drawn conclusions not supported by the record. 'The adjudicating authority ignored crucial material facts and drew conclusions that contradict the record. Therefore, we cannot endorse its findings,' the tribunal said, as reported by appellate tribunal supported the ED's action in attaching the assets of the Kochhars. It said that the attachment was based on a clear timeline of events and strong documentary tribunal concluded that the entire process, from loan sanctioning to the transfer of funds and the routing of money into a company controlled by Deepak Kochhar, showed clear misuse of position and violation of ethical standards.- EndsTrending Reel advertisement


NDTV
3 hours ago
- NDTV
Appellate Tribunal Upholds Seizure Of Chanda Kochhar's Assets In Videocon Loan Case
New Delhi: An appellate tribunal has found Chanda Kochhar, former CEO and managing director of ICICI Bank, guilty of accepting Rs 64 crore bribes that were routed through her husband Deepak Kochhar from the Videocon Group, upholding the Enforcement Directorate (ED)'s seizure of her assets. The bribe was part of a quid pro quo arrangement linked to the sanction of a Rs 300 crore loan to the Videocon group during her tenure, said the tribunal. In its detailed July 3 order, the tribunal observed that the financial transaction involving Videocon's immediate transfer of Rs 64 crore to NuPower Renewables Pvt Ltd (NRPL), a company managed and controlled by Mr Kochhar, after ICICI Bank disbursed the loan, clearly established a pattern of corrupt practices. "Although the ownership of NRPL was shown on paper to be with VN Dhoot (Chairman and MD of Videocon Group), he himself admitted that the actual control lay with Deepak Kochhar," the tribunal noted. The order also stated that the evidence, including statements recorded under Section 50 of the Prevention of Money Laundering Act (PMLA), substantiated the Enforcement Directorate's (ED) claim of a quid pro quo arrangement. The tribunal came down heavily on the earlier decision of the Adjudicating Authority in November 2020, which had ordered the release of attached assets worth Rs 78 crore, including those linked to the Kochhars. It held that the adjudicating body had "ignored material facts and drawn conclusions contrary to the record." Backing the ED's actions, the tribunal said, "We find substance in the allegations for quid pro quo involving the sanction of a Rs 300 crore loan by ICICI Bank to Videocon and subsequent transfer of Rs 64 crore to NRPL. The factual matrix supports the ED's claim and justifies the attachment of assets." The tribunal underscored that Ms Kochhar's role in approving the loan, despite her conflict of interest, was in violation of the bank's internal policies. It highlighted that she was a part of the committee which sanctioned the loan to Videocon, even as her husband's firm benefited financially almost immediately after the disbursal. The tribunal's ruling marks a major development in the ongoing investigation into corporate fraud and conflict of interest involving one of India's top banking executives.