Former ICICI CEO Chanda Kochhar granted bail, instructed to not depart nation with out permission

New Delhi: Chanda Kochhar, former MD and CEO of ICICI Bank was granted bail on Friday, on a bond of Rs 5 lakh by PMLA (Prevention of Money Laundering Act) court docket in ICICI Bank-Videocon mortgage case.
The particular PMLA court docket granted bail to Kochhar on a bond of Rs 5 lakh and requested her to not depart the nation with out the permission of the court docket.
Videocon’s Venugopal Dhoot didn’t seem earlier than the court docket at the moment and it was delivered to the discover of the court docket that summons was not served to him correctly as per guidelines. The ED sleuths knowledgeable the court docket that contemporary summons might be served to Venugopal.
The ED had arrested Deepak Kochhar in September 2020 after submitting of a felony case for alleged cash laundering prices, based mostly on an FIR registered by the CBI in opposition to the Kochhars, Dhoot and others.

Former MD & CEO of ICICI Bank Chanda Kochhar arrives at Mumbai Sessions Court after she was summoned in ICICI Bank-Videocon mortgage case pic.twitter.com/WLppECkBtI
— ANI (@ANI) February 12, 2021

The ED has alleged that Rs 64 crore, out of a mortgage quantity of Rs 300 crore sanctioned by a committee of ICICI Bank headed by Chanda Kochhar to Videocon International Electronics Limited, was transferred to Nupower Renewables Pvt Ltd (NRPL) by Videocon Industries on September 8, 2009, a day after the disbursement of mortgage.
The ED carried out raids at areas linked to them in March 2020.
It had additionally grilled Chanda Kochhar’s brother-in-law Rajiv Kochhar. Dhoot was additionally questioned in reference to the case.
The CBI had in 2019 registered an FIR within the ICICI-Videocon mortgage case involving Kochhars.