Lawstreet Journal

ED to File Status Report on 14th October 2020 in ICICI Bank Videocon Money Laundering Case

Lawstreet Journal 10 Oct 2020 11:38pm

Image courtesy: Lawstreet Journal Business ED to File Status Report on 14th October 2020 in ICICI Bank Videocon Money Laundering Case

On September 7th 2020, Mr. Deepak Kochhar, husband of former ICICI Bank chairperson Chanda Kochhar, was arrested for being in connection to the ICICI Bank- Videocon money laundering case under the provisions of the Prevention of Money Laundering Act (PMLA) by the Enforcement Director for the purpose of questioning. 

The money laundering case is based on a CBI’s FIR against the couple and others for defrauding ICICI Bank by granting loans illegally in lieu of kickback.

Mr. Kochhar was in the custody of ED till 19th September after which he was taken to Delhi for the purpose of questioning but there he got tested positive for the novel coronavirus and was admitted to AIIMS Delhi and referred to NCI, Jhajjar. For questioning purposes and not wasting the time granted to interrogate Mr. Kochhar, ED obtained an order of transferring Deepak Kochhar to judicial custody during his treatment period.

On September 14th, Mumbai Court passed an order to that effect requiring Kochhar to be presented before it within 2 days after being tested negative and discharge from the hospital for further orders. 

During his treatment, Mr. Kochhar filed a plea seeking to shift him to a private hospital on his own expense which was declined by the Delhi HC stating that Kochhar was presently under the judicial custody of a Special PMLA court in Mumbai and the Delhi High Court can't shift him from one place to another. But later the plea was accepted by the special PMLA court in Mumbai and was allowed to… Continue Reading...

Tagged: ICICI Bank  
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