Charge sheet filed under PMLA Act
Official sources said on Wednesday that the ED has filed this charge sheet under the sections of the Prevention of Money Laundering Act (PMLA). The ED filed it before a special court in Mumbai on Tuesday and the court is yet to take cognizance of it.
Deepak Kochhar was arrested in September
The ED had filed a criminal case of money laundering after the CBI registered an FIR against Kochhar, Dhoot and others. After this, ED arrested Deepak Kochhar in September. The ED has filed charges against the Kochhar couple and their business units for ‘illegally allocating loans’ of Rs 1,875 crore to Videocon group companies and money laundering.
The ED had said that a committee headed by Chanda Kochhar had allocated a loan of Rs 300 crore to Videocon International Electronics Limited. On September 8, 2009, the next day after the loan was received, Videocon Industries Limited transferred Rs 64 crore to her husband’s company, Newpower Renewable Private Limited (NRPL). NRPL was earlier known as Newpower Renewable Limited (NRL).
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