Deepak Kochhar, the husband of former ICICI Bank CEO Chanda Kochhar, was granted bail by the Bombay High Court on Thursday in the ICICI Bank-Videocon money laundering case. The Enforcement Directorate arrested him in September of last year under the Prevention of Money Laundering Act (PMLA).
In December, a Mumbai court rejected Kochhar's bail application. The Central Bureau of Investigation has filed a money laundering case against Kochhar (CBI). In the event, Chanda Kochhar and Videocon promoter Venugopal Dhoot were also arrested. According to sources, Dhoot mentioned in his ED statement that Rs 64 crore was transferred to Kochhar's company Nupower Renewables in exchange for loans from ICICI Bank, which is headed by Chanda Kochhar.
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