Deepak Kochhar, husband of former ICICI Bank chief Chanda Kochhar, has been granted bail by the Bombay High Court. He was under investigation for the alleged ICICI Bank-Videocon money laundering case which was investigated by the Enforcement Directorate (ED).
His gets his bail a month after Chanda Kochhar was granted bail by a special Prevention of Money Laundering Act (PMLA) court. Less than two weeks back, another dominant name in the case, Videocon Group promoter Venugopal Dhoot was granted bail too.
At present, all three high-profile names in the alleged ICICI Bank-Videocon money laundering case are out on bail.
On January 30, the court summoned Chanda Kochhar, her husband Deepak Kochhar and Dhoot after taking cognisance of the ED's charge sheet.
The ED had arrested 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.
The ED has alleged that Rs 64 crore, out of a loan amount of Rs 300 crore sanctioned by a committee of ICICI Bank headed by Chanda Kochhar to Videocon International Electronics, was transferred to Nupower Renewables (NRPL) by Videocon Industries on September 8, 2009, a day after the disbursement of loan.
NRPL was earlier known as Nupower Renewables and is owned by Deepak Kochhar, the ED said.
