Former ICICI Bank CEO has been granted bail on a bond of Rs 5 lakh by the Mumbai court. She was allegedly charged with a money laundering case involving the bank and the Videocon Group.
In February 2019, the Enforcement Directorate (ED) filed a criminal case with money laundering charges to probe alleged irregularities and corrupt practices in the sanctioning of Rs 1,875 crore in loans by ICICI Bank.
The ED is simultaneously also probing at least two other loans given by ICICI Bank during Kochhar’s tenure to Gujarat-based pharma firm Sterling Biotech and the Bhushan Steel Group, according to NDTV.