Spl court rejects bail petition of Deepak Kochhar

Spl court rejects bail petition of Deepak Kochhar

A special court hearing money laundering matters on Thursday rejected the default bail plea of Deepak Kochhar, husband of former ICICI Bank CEO, Chanda Kochhar, a week after the ED submitted chargesheet against him. Of the 11 accused in the case filed by the ED, he is the sole arrested.
Last January, the CBI had registered a cheating and criminal conspiracy case under the IPC and criminal misconduct under the Prevention of Corruption Act against Kochhar and his wife among others for allegedly causing losses to ICICI Bank by sanctio-ning loans to Videocon Group in contravention of the bank’s rules and policies.
Additional sessions Judge PP Rajvaidya rejected the plea and posted the case for November 23, for reply from the ED to a bail plea on grounds of merits.

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