Kochhar has moved the Bombay High Court challenging the proceedings initiated against him by the Enforcement Directorate in the ICICI Bank-Videocon money laundering case.
“Let the lower court frame the charges,” Justice Sandeep Kashinath Shinde said. And adjourned the matter till 22 September.
Before the adjournment, Kochhar’s lawyers informed the court that the special PMLA The (Prevention of Money Laundering Act) court had listed the matter for framing of charges on October 1 and hence there is an urgency in the matter.
In a petition filed through his counsel Dadhichi Mhaispurkar and HK Sudhakar, Kochhar is seeking the High Court’s intervention to set aside the January 30 order of the special PMLA (Prevention of Money Laundering Act) court, which had directed Ed To investigate further against him.
When contacted, Special Public Prosecutor Hiten Venegavkar, appearing for the ED in the case, confirmed the development but declined to give any further details as the matter is sub-judice.
The petition filed by Kochhar said, “The alleged loans/credit facilities given to the companies of Videocon Group as mentioned in the PE (Preliminary Investigation) are completely different with those stated in the FIR.” “Till date, the CBI has not filed any charge sheet in the absence of any conclusive findings in its investigation.”
The ED registered a money laundering case against Videocon group promoter Kochhar following an FIR registered by the Central Bureau of Investigation (CBI). Venugopal Dhoot, and others. The central probe agency is probing the alleged involvement of Kochhar and his business entities for “illegal sanction of loans of about Rs 1,875 crore to Videocon group firms”.
The probe conducted by the ED had reportedly revealed that ICICI Bank had disbursed a loan of Rs 300 crore (actual disbursed amount of Rs 283.45 crore) to Videocon International Electronics Limited (VIEL) on September 7, 2009, when the donations were on top. Was.
The next day, Rs 64 crore out of the loan received by VIL Group from ICICI and transferred to NuPower Renewables Private Limited (NRL) through Supreme Energy Private Limited (SEPL).
The ED had termed Rs 64 crore as proceeds of crime and was treating it as ‘quid pro quo’ for the loan sanctioned by ICICI to the VIL group when Chanda was leading it.