Archive · 23 Jul 2025
Tribunal Upholds ED Order in Chanda Kochhar-Videocon Money Laundering Case
Imagine someone who used to be the boss of a big bank, Chanda Kochhar.
Investigators think she did something wrong.
They believe she helped a company called Videocon get a big loan from the bank, and in return, Videocon gave money to her husband.
The government is looking into this because they think it was a way to hide money.
An important group of judges agreed that there's a good reason to suspect something illegal happened.
They said Kochhar knew what was going on and can't pretend she didn't.
They've frozen her flat in Mumbai because they think it was bought with the hidden money.
Appellate tribunal upheld ED order attaching a Mumbai flat owned by Chanda Kochhar and her husband.
The tribunal found a "prima facie" case of money laundering in a corruption case involving the Videocon Group.
ED alleged a "quid pro quo" arrangement after ICICI Bank sanctioned a Rs 300 crore loan to Videocon.
The Videocon Group transferred Rs 64 crore to a company owned by Deepak Kochhar, Chanda Kochhar's husband.
The tribunal rejected Kochhar's claim of ignorance, stating she was expected to adhere to bank policies.
- Who
- The case involves former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar and the Videocon Group.
- What
- An appellate tribunal upheld an ED order related to money laundering involving Chanda Kochhar.
- When
- The tribunal's order was dated July 3.
- Where
- The Mumbai flat in Churchgate was attached, the location of the alleged crime.
- Why
- The ED believes the Kochhars were involved in money laundering related to a loan sanctioned by ICICI Bank to Videocon.
- Involved Parties
- Chanda Kochhar, Deepak Kochhar, Videocon Group
- Bank Involved
- ICICI Bank
- Loan Amount
- Rs 300 crore
- Alleged Transfer
- Rs 64 crore to NRPL (Deepak Kochhar's company)
- ED Attachment
- Mumbai flat and cash
- Tribunal Finding
- "Prima facie" case of money laundering