PMLA case: Ex-ICICI CEO Chanda Kochhar gets bail; can't leave country without court's permission

New Delhi: Special PMLA court on Friday granted bail to former ICICI Bank CEO and MD

Chanda Kochhar in connection with the ICICI Bank-Videocon money laundering case on a bond of Rs 5 lakh. The court has asked her not to leave the country without the permission of the court.

The special court for Prevention of Money Laundering Act (PMLA) had on January 30 summoned Chanda Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and other accused in the case after taking cognisance of the Enforcement Directorate's (ED) charge sheet.

Chanda Kochhar appeared before the special Judge A A Nandgoankarand filed a bail application through her lawyer Vijay Agarwal.

The ED had arrested Deepak Kochhar in September 2020 after it filed a criminal case for money laundering based on an FIR registered by the CBI against the Kochhars, Dhoot and others.

The ED has alleged that Rs 64 crore, out of a loan amount 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 loan.

NRPL was earlier known as Nupower Renewables Limited (NRL) and is owned by Deepak Kochhar, the ED said.

With Agency Inputs