The special PMLA Court in Mumbai has granted bail to Chanda Kochhar, former MD and CEO of ICICI Bank.
On January 30, the court had issued summons to Kochhar and other accused alledgedly involved in a money laundering case after going through written complaints and statements recorded under PMLA. Chanda Kochhar was accused of misusing her position and granting Rs. 1,875 crore loan to accused Videocon group.
In the investigation, CBI found six loans worth ₹ 1,875 crore were sanctioned between June 2009 and October 2011. CBI alleged that this caused a loss of ₹ 1,730 crore to the bank.
She was granted bail on a bond of Rs. 5 Lakh and was told not to leave the country without court’s permission. Her husband Deepak Kochhar was arrested in September last year in connection with the same case. In February 2019 the Enforcement Directorate filed a criminal case with money laundering charges against Ms Kochhar.