Mumbai/ New Delhi:

Businessman Deepak Kochhar, husband of ex-ICICI Bank CEO Chanda Kochhar, today got bail in an alleged multi-crore money laundering case being investigated by the Enforcement Directorate. He was arrested last year in September by the central probe agency in the case involving ICICI Bank and the Videocon Group.

In February 2019, the central probe agency – that investigates financial frauds – had filed a criminal case under the Prevention of Money Laundering Act (PMLA) against Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group to investigate alleged irregularities and corrupt practices  in the sanctioning of Rs 1,875 crore in loans by ICICI Bank. 

About a week after his arrest, Mr Kochhar, 60, had tested positive for coronavirus. The ED officials who had questioned him had isolated themselves as a precaution. 

Last month, Chanda Kochhar, 59, was granted bail in the corruption case on a bond of Rs 5 lakh by a Mumbai court.  She was told, however, that she won’t be allowed to leave the country without permission. 

Ms Kochhar was sacked in 2019, months after she had stepped down from the posts. Both she and her husband deny all charges against them. 

The Enforcement Directorate is simultaneously also probing at least two other loans given by ICICI Bank during Ms Kochhar’s tenure – to Gujarat-based pharma firm Sterling Biotech and the Bhushan Steel Group.