Archive · 23 Jul 2025
Tribunal Upholds ED Order in Kochhar-Videocon Money Laundering Case
Imagine a banker, Chanda Kochhar, and her husband.
They are accused of doing something wrong with a loan.
The bank, ICICI, gave a big loan to a company called Videocon.
After that, Videocon sent money to a company owned by Kochhar's husband.
Investigators think this was a secret deal.
Now, officials are checking if this money was used to buy a flat.
The court agrees the evidence suggests money laundering and that Kochhar knew about the loan and the transfer.
The flat is now linked to the case, and officials can keep it.
Appellate tribunal upheld an ED order attaching a Mumbai flat belonging to Chanda Kochhar.
The tribunal found a prima facie case of money laundering against Kochhar and her husband.
ED alleged a 'quid pro quo' arrangement: loan to Videocon followed by fund transfer.
The loan of Rs 300 crore was sanctioned by ICICI Bank, where Chanda Kochhar was a member.
Tribunal confirmed the attachment order, stating the flat was purchased with laundered funds.
- Who
- Former ICICI Bank CEO Chanda Kochhar and her husband are involved.
- What
- Appellate tribunal upheld ED order on Chanda Kochhar's property, alleging money laundering.
- When
- The tribunal's order was dated July 3.
- Where
- Mumbai, at a flat owned by Chanda Kochhar.
- Why
- Because of a 'quid pro quo' arrangement involving a loan and fund transfer.
- Involved Parties
- Chanda Kochhar, Deepak Kochhar, Videocon Group
- Bank
- ICICI Bank
- Loan Amount
- Rs 300 crore
- Fund Transfer Amount
- Rs 64 crore
- Attachment
- Mumbai flat, property of NRPL
- Legal Body
- Appellate Tribunal, Enforcement Directorate (ED)