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Monday, March 1, 2021

PMLA case: Ex-ICICI Financial institution CEO Chanda Kochhar seems earlier than courtroom – Occasions of India

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MUMBAI: Former ICICI Bank CEO and MD Chanda Kochhar appeared earlier than a special PMLA court right here on Friday in reference to the ICICI Financial institution-Videocon cash laundering case.
The particular courtroom for Prevention of Cash 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 earlier than the particular choose A A Nandgoankarand filed a bail utility by way of her lawyer Vijay Agarwal.
The courtroom requested the ED to file its reply on her bail utility.
The ED had arrested Deepak Kochhar in September 2020 after it filed a legal case for cash laundering primarily based on an FIR registered by the CBI in opposition to 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 Financial institution headed by Chanda Kochhar to Videocon Worldwide Electronics Restricted, 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 referred to as Nupower Renewables Restricted (NRL) and is owned by Deepak Kochhar, the ED stated.
Taking cognisance of the cost sheet, Choose A A Nandgoankar had noticed, “After going by way of the submissions, written complaints and statements recorded beneath PMLA, it seems that Chanda Kochhar had misused her official place in granting mortgage to accused Dhoot and/or Videocon group corporations.”
“And (it seems) she received unlawful gratification/undue benefit by way of her husband…by way of varied corporations for siphoning off cash and proceeds of crime,” the courtroom had stated.
The fabric produced by the ED constitutes the fee of offence, and it’s “adequate to proceed in opposition to the accused individuals”, the courtroom had stated.

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