A Mumbai court on Tuesday rejected a bail plea of businessman Deepak Kochhar, husband of former ICICI Bank CEO Chanda Kochhar and an accused in a money laundering case. He was arrested by the Enforcement Directorate (ED) in September under the Prevention of Money Laundering Act (PMLA) in the alleged ICICI Bank-Videocon money laundering case. Special PMLA judge P P Rajvaidya rejected the `regular' bail application of Deepak Kochhar, filed on merits of the case as against technical grounds.
Chandole was arrested by the ED on late Wednesday night under the Prevention of Money Laundering Act (PMLA) in a case against a security service provider company and others.
The ED said that the investigation further revealed that there are 78 companies owned by the accused and his family members and it needed to probe whether the money went into these companies.
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