TIL Desk/Business/Mumbai/ Look out circulars have been issued to all airports against CEO of ICICI bank, Chanda Kochhar, her husband and businessman Deepak Kochhar and promoter of the Videocon group of companies, Venugopal Dhoot. A look out circular ensures that the person concerned cannot leave an airport without informing the authorities first.
The LOC was sent at the behest of the CBI which last week filed a preliminary enquiry case against Deepak Kochhar and Venugopal Dhoot. Rajiv Kochhar, brother of Deepak Kochhar and promoter of Avista Advisory Services, was detained at Mumbai airport when he was leaving for Singapore for a business trip.
The pre-emptive move on the part of the investigative agency comes in the wake of a series of economic offenders fleeing the country. Nirav Modi refused to return to India from Hong Kong despite repeated notices by the CBI, Income Tax department and the Enforcement Directorate. Lalit Modi has invested millions of pounds to get a residency status in the UK and Vijay Mallya is digging his heels in, also in the UK. Arms dealer Sanjay Bhandari is also believed to be in the UK.
