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HC stays ED’s move to seize Deepak Kochhar’s assets
The Bombay High Court granted interim relief to Deepak Kochhar and stayed the Enforcement Directorate’s attachment of assets worth ₹78 crore, until the next hearing on June 19. The case centers on allegations of quid pro quo linked to ICICI Bank loans to Videocon and investments into NuPower Renewables by Videocon.
Why It Matters
The order underscores judicial scrutiny of ED actions in a high-profile money laundering inquiry involving the Kochhars and a linked corporate network, with potential implications for ongoing investigations.
Timeline
7 Events
HC stays ED’s move to seize Deepak Kochhar’s assets
May 8, 2026
A division bench of the Bombay High Court (Chief Justice Shree Chandrashekhar and Justice Gautam Ankhad) granted interim relief to Deepak Kochhar and stayed the ED’s attachment of assets worth ₹78 crore, restraining the ED from taking possession until the next hearing on June 19.
Bombay High Court judgment on arrest unlawful
February 2024
The Bombay High Court, in February 2024, deemed their arrest unlawful and an abuse of power.
Interim bail granted by Bombay High Court
January 2023
The Kochhars were granted interim bail by the Bombay High Court in January 2023.
CBI arrests Chanda and Deepak Kochhar
December 2022
In December 2022, both Chanda Kochhar and Deepak Kochhar were arrested by the CBI in relation to the case, later granted interim bail by the Bombay High Court in January 2023.
Adjudicating authority under PMLA dismisses attachment
November 2020
In November 2020, an adjudicating authority under the Prevention of Money Laundering Act dismissed the attachment of the Kochhars’ assets.
ED arrests Deepak Kochhar
September 2020
Deepak Kochhar was arrested by the ED in September 2020 and was later released on bail.
ED provisionally attaches Kochhar assets worth ₹78 crore
January 2020
In January 2020, the Enforcement Directorate provisionally attached the Kochhars’ assets worth ₹78 crore, including a flat at CCI Chambers in south Mumbai and cash of ₹10.5 lakh, in a money-laundering case.