The Bombay High Court on Thursday granted bail to Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, in a money laundering case lodged by the Enforcement Directorate (ED).
Kochhar moved the High Court after a special court in the city rejected her bail in December last year.
The High Court Justice PD Naik on Thursday granted him bail on the basis of merit.
Kochhar was arrested by the ED in September last year in the ICICI Bank-Videocon money laundering case under the Prevention of Money Laundering Act (PMLA) Act.
The ED registered a case of money laundering against the Kochhar couple, Videocon Group promoter Venugopal Dhoot and others after an FIR lodged by the Central Bureau of Investigation (CBI) and alleged lending to Videocon Group companies to ICICI Bank Damaged. In violation of ICICI Bank policies.
Kochhar had argued that the ED had taken note of all the alleged proceedings of the crime in the case, so he had no opportunity to make any third party rights or interfere in the investigation if he was out on bail.
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