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ICICI-Videocon Scam: Former ICICI Bank Chief Chanda Kochhar’s Husband Granted Bail

ICICI-Videocon Scam: Former ICICI Bank Chief Chanda Kochhar’s Husband Granted Bail

The multi-crore money laundering scam was being investigated by the Enforcement Directorate (ED).

Deepak Kochhar File Photo

Deepak Kochhar, the husband of former ICICI Bank CEO Chanda Kochhar, has been granted bail by the Bombay High Court on Thursday in the alleged ICICI Bank-Videocon money laundering case.

The multi-crore money laundering scam was being investigated by the Enforcement Directorate (ED).

Kochhar, one of the main accused in the ICICI-Videocon loan case, was arrested by the ED in September last year under the Prevention of Money Laundering Act (PMLA) in the alleged money laundering case.

Last month, the special PMLA court in Mumbai had granted bail to Chanda Kochhar in connection with the money-laundering case involving a Rs 1,875 crore loan to the Videocon Group.

In 2018, Chanda Kochhar had to step down as the ICICI CEO because of the investigation. However, she denied all charges against her and her husband.

The central probe agency - that investigates financial crimes - had registered a case on the issue on 30 January 2019. An investigation against Deepak Kochhar, Chanda Kochhar, Venugopal Dhoot and their related firms began following the case registered by the Central Bureau of Investigation (CBI) on 22 January 2019.

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