Mumbai: A special PMLA court has held that the material submitted by the Enforcement Directorate is sufficient to proceed with a trial for money laundering against former ICICI Bank CEO and MD Chanda Kochhar and others.
On January 30, the special court for Prevention of Money Laundering Act had summoned Kochhar, her husband Deepak Kochhar, Videocon Group promoter Venugopal Dhoot and other accused after taking cognizance of the ED's charge sheet.
In the order that was made available on Wednesday, judge A A Nandgoankar said, "After going through the submissions, written complaints and statements recorded under PMLA, it appears that Chanda Kochhar had misused her official position in granting loan to accused Dhoot and/or Videocon group companies.
"And (it appears) she got illegal gratification/undue advantage through her husband... through various companies for siphoning off money and proceeds of crime," the judge said.
The material produced by the ED constitutes the commission of offence, and it is "sufficient to proceed against the accused persons," the court said.