Nisha Ghosal
The Enforcement Directorate (ED) told the Supreme Court that no forceful action will be taken against ICICI Bank’s former CEO Chanda Kochhar.
The ED had filed charges against Chanda Kochhar, along with her husband and Venugopal Dhoot under the Prevention of Money Laundering Act for corrupt practice and irregularly sanctioning ₹ 1,875 crore of loans.
Chanda Kochhar is currently on bail.
She claimed that her husband’s arrest was “illegal” and had filed a petition for the bail of Deepak Kochhar.
Solicitor General Tushar Mehta (on behalf of ED) assured the Bench headed by Justice S.K. Kaul that no step would be taken from their side against the former CEO.
The ICICI Bank had filed a petition against Kochhar in Bombay HC for recovery of the money.
In a different issue, Ms. Kochhar challenged an order of Bombay HC that dismissed the petition challenging her sacking as the CEO and managing director of ICICI Bank.
