Wednesday, 29 June, 2022
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Court grants bail to ex-ICICI Bank CEO Chanda Kochhar in money laundering case

The special PMLA court asked ED to file its reply on Chanda Kochhar's bail application, filed in connection with the ICICI Bank-Videocon money laundering case.

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Mumbai: Former ICICI Bank CEO and MD Chanda Kochhar was granted bail by a special PMLA court here on Fridayin connection with the ICICI Bank-Videocon money laundering case.

The special court for Prevention of Money Laundering Act (PMLA) had on January 30 summoned Chanda Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and other accused in the case after taking cognisance of the Enforcement Directorate’s (ED) charge sheet.

Accordingly, Chanda Kochhar appeared before special court judge A A Nandgoankar.

Following her appearance, her lawyer Vijay Agarwal filed her bail application. The court allowed the same on a bond of Rs 5 lakh.

The ED had arrested her husband Deepak Kochhar in September 2020 after it filed a criminal case for money laundering based on an FIR registered by the CBI against the Kochhars, Dhoot and others.


Also read: Web of firms, money trail, properties — case ED has built against Chanda Kochhar’s husband


 

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1 COMMENT

  1. Ms. Kochhar was unlucky to have been caught in the act. The senior management of all private sector banks indulge in such quid pro quo deals. Its nothing new or novel. The honchos of auch banks and industry leaders party together. They are part of the same social circle – the elites of the nation. They attend the same parties and send their children to the same schools/colleges. Its but obvious that deals are first struck in such informal settings and then formalized later by their respective legal teams. In such a scenario, its obvious that quid pro quo is tue way to go.

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