ED on Friday raided the residence of former Chief Executive Officer of ICICI Bank Chanda Kochhar and promoter of Videocon Group Venugopal Dhoot on Friday. The raid was done under the ongoing investigation of alleged irregularities and corruption related issues in granting loans of Rs 1,875 crore to the Videocon Group.

The agency searched the houses of Kochhar South Mumbai and Dhoot in Aurangabad. Earlier, the Central Bureau of Investigation (CBI) searched the office of Nupavar Renewables and Dhoot in Mumbai and Aurangabad. This is the first time that the ED has raided Kochar's house.

ED had filed a case of money laundering in February on the basis of the CBI FIR. In January, CBI had raided four places in Mumbai related to the case. Kochhar is charged with accepting loans to private companies by plotting a criminal conspiracy with other accused. FIR was registered on March 31, 2018, in view of initial investigation (PE) against Deepak Kochhar, Videocon Group officials and others. The initial investigation was done to ascertain whether something has gone wrong with ICICI Bank's approval of loan in the part of a consortium