Businessman Deepak Kochhar, husband of former ICICI Financial institution CEO Chanda Kochhar and an accused in a cash laundering case, on Wednesday moved a bail software earlier than a particular courtroom right here. Deepak Kochhar was arrested by the ED in September underneath the Prevention of Cash Laundering Act (PMLA) within the ICICI Financial institution-Videocon cash laundering case.
The businessman, by means of his lawyer, utilized for bail on deserves in addition to on account of default, claiming the prosecution has did not file a charge-sheet within the case inside stipulated interval. The prosecution mentioned the charge-sheet was filed on November 3.
Nevertheless, it’s pending scrutiny by the division involved since there are 5 trunks stuffed with paperwork that should be verified, it mentioned. Following this, the courtroom will take cognisance of the chargesheet.
The bail plea was posted for listening to on Thursday by the particular PMLA courtroom. The ED had arrested Deepak Kochhar in September after it filed a prison case of cash laundering after learning an FIR registered by the CBI towards the Kochhars, Videocon Group promoter Venugopal Dhoot and others.
The central probe company slapped cash laundering prices towards the Kochhars and their enterprise entities for “unlawful sanctioning of loans amounting to Rs 1,875 crore to the Videocon Group of corporations”. The ED had earlier mentioned an quantity of Rs 64 crore, out of the Rs 300 crore mortgage sanctioned by a committee headed by Chanda Kochhar to Videocon Worldwide Electronics Ltd, was transferred to Nupower Renewables Pvt Ltd (NRPL) by Videocon Industries Ltd on September 8, 2009, only a day after disbursement of the mortgage by ICICI Financial institution.
NRPL was earlier generally known as Nupower Renewables Ltd (NRL) and is an organization of Deepak Kochhar. The company had alleged that the “internet income of Rs 10.
65 crore was generated by NRL from these tainted funds”. “Due to this fact, proceeds of crime amounting to Rs 74.65 crore had been transferred to or to say generated in NRPL,” the ED had claimed.