Deepak Kochhar, husband of Chanda Kochhar, former MD and CEO of ICICI Bank, has been sent to ED custody till 17 October. The ED arrested Deepak Kochhar in September in the ICICI Bank-Videocon case under sections of the Prevention of Money Laundering Act (PMLA). 

Were found to be corona positive 

Deepak Kochhar was remanded in the custody of the Enforcement Directorate (ED) by a special court in Mumbai till 17 October in the money laundering case. Kochhar was remanded to ED remand until 19 September after his arrest, but was postponed and sent to judicial custody after he was found infected with the Corona virus. He was admitted to the hospital for treatment. 

According to the news agency PTI, after recovering, the investigating agency produced him again before the special PMLA court. The ED started an investigation into the case after the CBI filed an FIR against Chanda Kochhar, Deepak Kochhar and Videocon Group promoter Venugopal Dhoot and others. 

What is the matter 

It is alleged that Rs 64 crore was invested in 2010 by Deepak Kochhar’s firm NewPower Renewables by Videocon Group and 325 crore by Matrix Fertilizer. The investment was made immediately after getting loan from ICICI Bank. Chanda Kochhar may also find it difficult in the coming time as the investigating agency is also investigating the granting of loans to companies other than Videocon and Matrix.

The investigating agency can investigate all the loans that Chanda Kochhar had given to the companies while being the head of ICICI Bank. Earlier, ED had also attached the property related to Chanda Kochhar. All things related to Videocon loan case were attached by the ED.

Apart from this, ED has also attached assets worth about Rs 78 crore to Kochhar. Chanda Kochhar and eight other people of the bank have been accused of negligence in giving loans to Videocon Group. 


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