ED assures SC of no coercive action against Kochhar

Money laundering: ED assures SC of no coercive action against Chanda Kochhar

ED said the prosecution complaint has been filed under PMLA before a special court in Mumbai

Former Indian Managing Director and CEO of the ICICI Bank Chanda Kochhar. Credit: AFP File Photo

The Enforcement Directorate on Friday assured the Supreme Court that it would not take any coercive action against former ICICI Bank CEO and MD Chanda Kochhar in a money laundering case.

Following the assurance by Solicitor General Tushar Mehta, a bench of Justices Sanjay Kishan Kaul, Dinesh Maheshwari and Hrishikesh Roy adjourned the hearing on the plea by Chanda Kochhar, challenging the arrest of her husband Deepak Kochhar in the case.

The ED has recently filed a charge sheet against Chanda Kochhar, Deepak Kochhar and Videocon Group promoter Venugopal Dhoot on money laundering charges. Kochhar's, Dhoot and others have denied the allegations.

They had said the charge sheet or the prosecution complaint has been filed under the Prevention of Money Laundering Act (PMLA) before a special court in Mumbai.

The central probe agency had arrested Deepak Kochhar in September after it filed a criminal case of money laundering after studying an FIR registered by the CBI against the Kochhars, Dhoot and others.

It has slapped money laundering charges against the Kochhars and their business entities for "illegal sanctioning of loans amounting to Rs 1,875 crore to the Videocon Group of companies".