ED arrests Chanda Kochhar’s husband in money laundering case

Businessman Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar, has been arrested in a money laundering case, said media reports on Monday.

The Enforcement Directorate arrested Deepak Kochhar after an investigation into his dealings with Videocon Industries. “He has been taken into the agency’s custody for custodial interrogation and will be produced tomorrow in the sessions court,” said an ED official.

The Central Bureau of Investigation in January 2019 filed a case of criminal conspiracy and fraud, alleging that ICICI Bank, under Chanda Kochhar, sanctioned “high value” loans to Videocon Industries, violating the bank’s lending policies, in exchange for an investment by the consumer electronics company’s owner in a business headed by Deepak Kochhar.