PMLA case: Ex-ICICI Bank CEO Chanda Kochhar appears before court – Times of India

MUMBAI: Former ICICI Bank CEO and MD Chanda Kochhar appeared before a special PMLA court right here on Friday in reference to the ICICI Bank-Videocon cash laundering case.
The particular 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 different accused within the case after taking cognisance of the Enforcement Directorate’s (ED) cost sheet.
Chanda Kochhar appeared before the particular decide A A Nandgoankarand filed a bail software by means of her lawyer Vijay Agarwal.
The court requested the ED to file its reply on her bail software.
The ED had arrested Deepak Kochhar in September 2020 after it filed a felony case for cash laundering primarily based on an FIR registered by the CBI towards the Kochhars, Dhoot and others.
The ED has alleged that Rs 64 crore, out of a mortgage quantity of Rs 300 crore sanctioned by a committee of ICICI Bank headed by Chanda Kochhar to Videocon International Electronics Limited, was transferred to Nupower Renewables Pvt Ltd (NRPL) by Videocon Industries on September 8, 2009, a day after the disbursement of mortgage.
NRPL was earlier often known as Nupower Renewables Limited (NRL) and is owned by Deepak Kochhar, the ED stated.
Taking cognisance of the cost sheet, Judge A A Nandgoankar had noticed, “After going through the submissions, written complaints and statements recorded under PMLA, it appears that Chanda Kochhar had misused her official position in granting loan to accused Dhoot and/or Videocon group companies.”
“And (it appears) she got illegal gratification/undue advantage through her husband…through various companies for siphoning off money and proceeds of crime,” the court had stated.
The materials produced by the ED constitutes the fee of offence, and it’s “sufficient to proceed against the accused persons”, the court had stated.

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