A Lookout circular ensures that the person concerned cannot leave an airport without informing the authorities first.
Mumbai: A lookout circular (LoC) has been issued against ICICI Bank MD and CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon Group promoter Venugopal Dhoot at all airports in connection with a loan granted to the Videocon group in 2012, an India Today report said.
A lookout circular (LOC) ensures that the person concerned cannot leave an airport without informing the authorities first.
Government sources say that the lookout circular against Deepak Kochhar and Dhoot has been issued to ensure that they do not leave the country before the CBI completes its preliminary enquiry.
On Thursday Rajiv Kochhar, the brother-in-law of ICICI Bank MD and CEO Chanda Kochhar, was detained by immigration authorities at Mumbai airport when he was to leave for a Southeast Asian country and handed over to CBI sleuths, who questioned him in connection with the bank's dealing with Videocon Group.
Rajiv Kochhar was stopped from leaving the country at the Mumbai international airport by the authorities as the CBI had issued a Lookout Circular (LoC) against him. Meanwhile, the CBI on Friday questioned Rajiv Kochhar for a second consecutive day.
Sources said Kochhar was questioned on his firm Avista Advisory. Avista Advisory, founded by Rajiv Kochhar, who is the brother-in-law of Chanda Kochhar, got the mandate to restructure foreign currency-denominated debt deals worth over 1.7 billion dollar of seven companies over the period of last six years.
All these companies were borrowers of ICICI Bank at the same time.