NEW DELHI: A case has been registered against former ICICI Bank Managing Director and CEO Chanda Kochhar in the national capital, accusing Kochhar and 10 others of cheating a private company, leading to a loss of Rs 27 crore.
The Economic Offence Wing of the Delhi Police registered an FIR on December 20, citing allegations of cheating and criminal conspiracy.
The Patiala House Court on December 9 ordered Delhi Police to file a case after the complaint of Shammi Ahluwalia, Director of P & R Overseas Pvt Limited (Tomato Magic). In his complaint, Ahluwalia has written that the accused allegedly conspired to project a fake ‘Letter of Credit’ by a ‘foreign bank’, as genuine.
The complainant said he had received an order from a Russian buyer. As per the payment risk, the condition was that the order shall be premised on a 100% irrevocable ‘LoC’ issued by an ‘A’ class bank of international repute.
The Economic Offence Wing on December 20 registered an FIR under various IPC sections including 406/420/467/468/471/120B/34.
Accordingly, the complainant said that he received the ‘LoC’ through ICICI purportedly issued by the Royal Bank of Scotland (RBS). However, later it was found out the LoC was issued by a bank, RBS Alliance, Moscow, which had a bad track record. (ANI)