HC stays ED action on Deepak Kochhar's assets worth Rs.78 cr
MUMBAI, May 13 -- The Bombay High Court has granted interim relief to businessman Deepak Kochhar, husband of former ICICI Bank chief executive Chanda Kochhar, and stayed a tribunal's order upholding the Enforcement Directorate's (ED) attachment of his properties worth Rs.78 crore.
A division bench of chief justice Shree Chandrashekhar and justice Gautam Ankhad on May 8 observed that Kochhar had "made out a case for interim protection" and restrained the ED from taking possession of the attached assets till the next hearing date on June 19.
The case stems from allegations that ICICI Bank sanctioned six high-value loans totalling Rs.1,875 crore to Videocon Group companies between June 2009 and October 2012, when Chanda Kochhar was the bank's ...
To read the full article or to get the complete feed from this publication, please
Contact Us.