ICICI-Videocon PMLA case: HC grants bail to Deepak Kochhar


Team Udayavani, Mar 25, 2021, 3:55 PM IST

Mumbai: The Bombay High Court on Thursday granted bail to Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, in a money laundering case registered by the Enforcement Directorate (ED).

Kocchar had approached the high court after a special court in the city rejected his bail plea in December last year.

Justice P D Naik of the high court, while granting bail to Kochhar on Thursday, directed him to furnish a personal bond of Rs three lakh.

The high court also directed Kochhar to surrender his passport before the special court in the city hearing the Prevention of Money Laundering Act (PMLA) cases, and asked him to co-operate with the probe.

Kochhar was arrested by the ED in September last year under the PMLA in the alleged ICICI Bank-Videocon money laundering case.

The ED had registered the money laundering case following an FIR by the Central Bureau of Investigation (CBI) against the Kochhar couple, Videocon Group promoter Venugopal Dhoot, and others for allegedly causing loss to the ICICI Bank by sanctioning loans to the Videocon Group of companies in contravention of the policies of the ICICI Bank.

Kochhar had argued that the ED had taken note of all the alleged proceeds of the crime in the case, so there was no chance of him creating any third party rights or interfering with the probe if out on bail.

He had also said in his bail plea that the entire case against him was based on documentary evidence, which was already in the ED’s possession, and hence there was no question of him tampering with the evidence when out on bail.

The detailed order of the high court in the case is awaited.

Udayavani is now on Telegram. Click here to join our channel and stay updated with the latest news.

Top News

Man declared dead wakes up before cremation, 3 doctors suspended in Rajasthan

Teen stabs man to death at railway station in Mumbai after quarrel over local train seat

BJP stages protest against Karnataka govt over Waqf properties row

Youth attempts suicide after being humiliated in public for wearing ripped jeans in Belthangady

India crawl to 51 for 4 after losing top-order

Nursing student suicide: Three students arrested in Kerala

Nadda’s letter to Kharge full of falsehoods: Cong

Related Articles More

Baku climate talks: The ‘X’ factor that could determine future of Global South

Kidnapped for ransom in 1998, 26/11 survivor Gautam Adani faces biggest trial

Gautam Adani charged in US with USD 250 mn bribery, fraud

India’s GDP growth likely to slip at 6.5 pc, maintains 7 pc estimate for FY25: Icra

RBI cautions public about ‘deepfake’ video of governor being circulated on social media

MUST WATCH

Christmas Cake Fruit Mixing

DK Shivakumar

Rose Cultivation

Geethotsava

Naxal Operation


Latest Additions

Man declared dead wakes up before cremation, 3 doctors suspended in Rajasthan

Teen stabs man to death at railway station in Mumbai after quarrel over local train seat

War has endangered future of 2.5 billion children of world: UP CM Adityanath

UP man gets 10-yr jail term for murder attempt on father

Cement mixer truck overturns near Ambagilu

Thanks for visiting Udayavani

You seem to have an Ad Blocker on.
To continue reading, please turn it off or whitelist Udayavani.