Former MD and CEO of iCICI Bank Chanda Kochhar has got bail from the special PMLA court. The court granted bail to Chanda Kochhar on a personal bond of five lakh rupees. The court has ordered Chanda Kochhar not to go out of the country without prior approval of the court.
There is an allegation against Chanda Kochhar for giving loans to Videocon company without following the rules. Chanda Kochhar appeared in the court on Friday in this case. Chanda Kochhar filed a bail petition before Special Judge AA Nandgaonkar through his lawyer Vijay Aggarwal. The court asked the ED to file its reply on his bail application. Apart from Chanda Kochhar, her husband Deepak Kochhar is also accused and is currently in jail. In this case, Venugopal Dhoot of Videocon Company has also been summoned to appear in the court. The next hearing of the case will be on 12 March.
Kochhar faces a money laundering case. Videocon group is also involved with the bank in this case. The case relates to corruption in allocation of loan of Rs 1,875 crore from ICICI Bank. Videocon Group’s Venugopal Dhoot is also under investigation. After hearing in this case, the special PMLA court granted bail to Chanda Kochhar on a bond of Rs 5 lakh.
In the previous hearing, Judge Nandgaonkar had said that in view of the material provided by the PMLA, written complaints and recorded statements, it appears that Chanda Kochhar misused her position of accused Dhoot and her Videocon group Gave loans to companies. The judge said, ‘It seems that she took bribe / unfair advantage through her husband ….’. The court said that the material provided by the ED is sufficient to run the case against the accused persons.
