On Tuesday, Deepak Kochhar husband of former ICICI Bank MD & CEO Chanda Kochhar remanded to Enforcement Directorate custody for further questioning till 19 September by Special PMLA court in Mumbai. A team of ED officials were today seen escorting Deepak Kochhar from the ED office in Mumbai to a special Prevention of Money Laundering Act court.

ED officials arrested him yesterday in connection with ICICI Bank-Videocon case.

The case pertains to the alleged misappropriation cited in loans given by ICICI Bank to Videocon. Deepak Kochhar has been investigating by the Enforcement Directorate and the Central Bureau of Investigation, head of the company NuPower Renewables and his wife Chanda Kochhar on suspicion of cheating, criminal conspiracy and money laundering. Officials had said Deepak Kochhar was placed under arrest as the agency wants to put him under custodial interrogation to obtain more details about some fresh evidence gathered in this case, that was filed under the criminal sections of the anti-money laundering law in January last year, media reported. The movable and immovable assets consisting of flat, land, seized cash, plant and machinery, located in Tamil Nadu and Maharashtra which the agency had attached provisionally, totalling Rs 78.15 crore in possession of Chanda Kochhar, her husband and the companies owned or controlled by him.

The accusations led to Chanda Kochhar, who had been one of India’s few senior women bankers, resigning her position at ICICI Bank almost two years ago.