ED assures SC of no coercive action against Chanda Kochhar

New Delhi, November 20

The Enforcement Directorate (ED) on Friday assured the Supreme Court that it would not take any coercive action against former ICICI Bank CEO and MD Chanda Kochhar in a money laundering case.

A Bench headed by Justice SK Kaul was informed by Solicitor General Tushar Mehta that the agency would not take any coercive step in pursuance of the enforcement case information report (ECIR) registered in the ICICI Bank-Videocon Group loan case. ECIR is equivalent to a police FIR.

“Although there is a sword hanging on your head, there is no hurry as such,” said the Bench, also having Justices Dinesh Maheshwari and Hrishikesh Roy.

In the hearing conducted through video conferencing, the former ICICI Bank CEO was represented by senior advocate Mukul Rohatgi and lawyer Vijay Aggarwal. — PTI