The Bombay High Court has granted bail to businessman Deepak Kochhar, husband of ex-ICICI Bank CEO Chanda Kochhar, within the ICICI Bank-Videocon loan case. He was arrested in September final 12 months by the ED.
The court docket requested Deepak to furnish private bond of Rs 3 lakh and sureties. The court docket additionally requested him to give up passport with authorities and co-operate with the probe within the loan case.
Earlier in November final 12 months, a particular court docket had rejected his bail utility. He then approached the High Court in search of bail. The bail was granted by Justice PD Naik.
Kocchar was arrested by the ED in September final 12 months beneath the Prevention of Money Laundering Act (PMLA) Act within the alleged ICICI Bank-Videocon cash laundering case.
The ED registered the cash laundering case following an FIR registered by the Central Bureau of Investigation (CBI) towards the Kochhar couple, Videocon Group promoter Venugopal Dhoot, and others for allegedly inflicting loss to the ICICI Bank by sanctioning loans to the Videocon Group of corporations in contravention to the insurance policies of the ICICI Bank.
Kochhar had argued that the ED had taken observe of all of the alleged proceeds of crime within the case, so there was no likelihood of him creating any third social gathering rights, or interfering with the probe if out on bail.
READ MORE: PMLA case: Former ICICI Bank CEO Chanda Kochhar granted bail
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