India: India court remands former ICICI Bank CEO’s husband in police custody

An Indian court on Tuesday allowed the country’s financial crime fighting agency to take 10-day custody of former ICICI Bank CEO Chanda Kochhar’s husband, two lawyers familiar with the matter said.

Deepak Kochhar’s remand in custody comes a day after he was arrested by the Enforcement Directorate as part of an ongoing probe into allegations of money laundering which ended the career of one of India’s most celebrated bankers.

Indian authorities have been investigating Kochhar, head of the company NuPower Renewables, and his wife on suspicion of cheating, criminal conspiracy and money laundering.

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(Photo: Reuters/Francis Mascarenhas)

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