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ICICI Bank-Videocon case: Bombay HC grants bail to Deepak Kochhar

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The court has also ordered Deepak Kochhar to surrender his passport and co-operate with the ongoing investigation.

ICICI Bank-Videocon case: Bombay HC grants bail to Deepak Kochhar
The Bombay High Court on Thursday granted bail to Deepak Kochhar, husband of former managing director and chief executive officer of ICICI Bank Chanda Kochhar, in the alleged ICICI Bank-Videocon case.
Justice Prakash D Naik granted him bail on a personal bond of Rs 3 lakh and sureties, in the money laundering case registered by the Enforcement Directorate (ED).
The court has also ordered Deepak Kochhar to surrender his passport and co-operate with the ongoing investigation.
A special court had rejected Deepak’s bail plea in November 2020. Kochhar had then moved the high court.
Kochhar was arrested by the ED in September last year under the Prevention of Money Laundering Act (PMLA) Act in the alleged ICICI Bank-Videocon money laundering case.
The ED registered the money laundering case following an FIR registered by the Central Bureau of Investigation (CBI) against the Kochhar couple, Videocon Group promoter Venugopal Dhoot, and others for allegedly causing loss to the ICICI Bank by sanctioning loans to the Videocon Group of companies in contravention to the policies of the ICICI Bank.
On February 12, the special court for PMLA had granted bail to Chanda Kochhar on a bond of Rs 5 lakh in the case.
(With PTI inputs)
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