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Chanda Kocchar withdraws plea from SC filed on behalf of her husband in money laundering case

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New Delhi (ILNS): Former ICICI Bank CEO Chanda Kochhar on Friday withdrew plea filed in Supreme Court on behalf of her husband Deepak Kocchar challenging the chargesheet filed by ED in the money laundering case.

Chanda Kochhar had filed two pleas, one on behalf of her husband and the other is on her behalf in connection with the  charge sheet in the ICICI-Videocon loan case, naming Chanda Kochhar, her husband Deepak Kochhar, Videocon group chief Venugopal Dhoot and seven firms in a money laundering case.

On the previous occasion Solicitor General Tushar Mehta had informed the bench that the ED would not take any coercive steps in pursuance of the ECIR registered in ICICI Bank-Videocon Group loan case.

Today Senior Advocate Mukul Rohatgi, appearing for Deepak Kochhar, clarified that the petition has been filed by Chanda Kochhar on behalf of husband Deepak.

He further said that the petition lies because of the challenge to chapter 12 of CrPC. “The trial court divided my bail into two parts and the first bail was denied on filthy grounds. The second one is being heard,” Rohatgi said.

He said that he is in jail for the last two months. “The question is whether a PMLA adjudication can commence without complying with chapter 12 of CrPC,” he asked.

Justice Kaul asked: “Are you seeking discharge?”

Rohatgi said: “Right now it is for quashing.”

Justice Kaul asked: “Why did you not go to the high court?”

Rohatgi said: “Because it is an Article 21 matter.”

Justice Kaul said: “Why multiple proceedings? Why can’t the husband approach the court himself? The wife does not have to canvass for him. There is an order already in favour of the wife.”

Rohatgi said: “That in view of the fact that the husband has been exonerated in the PMLA proceedings, to facilitate the petitioner to take remedy in law, he is willing to withdraw the petition and approach the high court.”

At that SG Mehta said that there “is no exoneration.”

The bench, of course, said that it was not there to “consider such a question.”

Also Read: Supreme Court pulls up Gujarat govt over death of 5 people in Covid designated hospital, says this is not the first time

The case relates to alleged irregularities in sanctioning six loans worth Rs 1,875 crore to Videocon Industries Limited, Videocon International Electronics Ltd and four other companies associated with the Videocon group between June 2009 and October 2011.

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