Deepak Kochhar

The Bombay High Court found that Deepak Kochhar and the other appellants had established a case warranting interim protection. It stayed operation of the attachment order confirmed in 2025 and prohibited the ED from taking possession of the properties while the appeal was examined.

State of the evidence

Documented

The PMLA appeal tribunal overturned the Adjudicating Authority's 2020 order and found prima facie sufficient evidence linking the 64 crore transfer and attached assets to the alleged scheme.

State of the evidence

Established by a court

The ED attached NuPower assets, cash and the CCI Chambers flat, among other property, alleging that they were linked to 64 crore in proceeds of crime. In November, the Adjudicating Authority rejected the attachment complaint, finding in particular that the evidence was insufficient to establish the properties as proceeds of crime.

State of the evidence

Documented

Legal status — source text

provisional_attachment_not_confirmed_by_adjudicating_authority; ED_appealed

Following numerous summonses and interviews, the ED arrested Deepak Kochhar in the PMLA case arising from the ICICI–Videocon FIR.

Legal status — source text

arrested_under_PMLA_no_final_conviction

Attribution

Accused

The CBI registered an FIR targeting Deepak and Chanda Kochhar, Videocon and related companies, among others, alleging conspiracy, cheating and corruption involving six high-value loans. The ED subsequently registered a money laundering ECIR.

Attribution

Accused

NuPower was incorporated with Deepak Kochhar and members of the Dhoot group as initial directors. Following ICICI's grant of a 300 crore loan to a Videocon company, 64 crore was transferred through Supreme Energy to NuPower, described by investigators as controlled by Kochhar.

State of the evidence

transaction_documented; quid_pro_quo_alleged_by_CBI_and_ED

Attribution

Directly implicated