Chanda Kochhar should come clean or face detention: HP Ranina
Once steering committee members are questioned, skeletons would come out of the cupboard, says Ranina
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Chanda Kochhar should come up clean and make a full disclosure and even cooperate with the authorities to get a lower sentencing if that is possible, said HP Ranina, Senior Advocate, SC, in an interview with ET Now.
Edited excerpts:
This is not spelling good news for Chanda Kochhar because the Enforcement Directorate is not quite happy with her line of answering and they said her answers were very cryptic in nature.
It is on expected line but I think Chanda Kochhar would do well to cooperate because otherwise there is a strong possibility that they can move the court for her detention and the questioning can then take place under detention if it is found that she is not cooperating or not giving answers or being very cryptic about her reply.
In course of time, Chanda will have to realise that it is better to give away to cooperate and not to drag on this matter for too long. It is in her own interest to make sure that she is in full command and gives whatever is the correct position because ultimately it is going to be found out and now there are foreign agencies which supply lots of information. Unless she cooperates, it is bad news for her.
ED is open to the idea of questioning Chanda Kochhar again. Does that mean the noose is tightening and there is a lot of material to ensure that the prosecution and if Chanda Kochhar is found guilty, she will be brought to book?
Yes, I think so. ED must be having enough evidence collected from various sources and therefore they want to put that evidence before Chanda Kochhar and confront her with it. Therefore, it is not in the interest of Chanda Kochhar to try to give evasive answers. She should come up clean and make a full disclosure and even cooperate with the authorities to get a lower sentencing if that is possible.
She needs to be properly advised to cooperate and if she does not do that, then it is going to be really bad for her in the coming days. Once the members of the steering committee, those who sanctioned loans are questioned again, then a lot of other skeletons would come out of the cupboard.
Edited excerpts:
This is not spelling good news for Chanda Kochhar because the Enforcement Directorate is not quite happy with her line of answering and they said her answers were very cryptic in nature.
It is on expected line but I think Chanda Kochhar would do well to cooperate because otherwise there is a strong possibility that they can move the court for her detention and the questioning can then take place under detention if it is found that she is not cooperating or not giving answers or being very cryptic about her reply.
In course of time, Chanda will have to realise that it is better to give away to cooperate and not to drag on this matter for too long. It is in her own interest to make sure that she is in full command and gives whatever is the correct position because ultimately it is going to be found out and now there are foreign agencies which supply lots of information. Unless she cooperates, it is bad news for her.
ED is open to the idea of questioning Chanda Kochhar again. Does that mean the noose is tightening and there is a lot of material to ensure that the prosecution and if Chanda Kochhar is found guilty, she will be brought to book?
Yes, I think so. ED must be having enough evidence collected from various sources and therefore they want to put that evidence before Chanda Kochhar and confront her with it. Therefore, it is not in the interest of Chanda Kochhar to try to give evasive answers. She should come up clean and make a full disclosure and even cooperate with the authorities to get a lower sentencing if that is possible.
She needs to be properly advised to cooperate and if she does not do that, then it is going to be really bad for her in the coming days. Once the members of the steering committee, those who sanctioned loans are questioned again, then a lot of other skeletons would come out of the cupboard.
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