New Delhi: In a major development to the money laundering allegations in ICICI-Videocon case, the Enforcement Directorate (ED) on Monday arrested Deepak Kochhar, husband of former ICICI Bank MD & CEO Chanda Kochhar.Also Read - Ahead of Polls, ED Raids Punjab CM's Nephew In Illegal Sand Mining Case; Congress Says 'BJP's Election Campaign Begins'

As per latest updates, Deepak was being questioned by the ED whole day before he was arrested in the night.He has been arrested under the provisions of the Prevention of Money Laundering Act (PMLA). Also Read - Aishwarya Rai Summoned by ED in Panama Papers Case

Also Read - Jacqueline Fernandez Summoned by ED in Rs 200 cr Extortion Case After Viral Picture With Sukesh Chandrasekhar

The ICICI-Videocon case pertains to an alleged misappropriation cited in loans given by the ICICI Bank to Videocon.

The move from the ED comes almost a year after the agency filed a money laundering case on the basis of a complaint registered by the CBI against Videocon Director Venugopal Dhoot, his companies (Videocon International Electronics Ltd and Videocon Industries Ltd), as well as former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar.

After his arrest, the ED said it will produce Deepak Kochhar before a local court on Tuesday to seek his custody.

The ED had filed its case after studying an FIR registered by the CBI against the couple, Videocon Group promoter Venugopal Dhoot and others.

It slapped money laundering charges against the Kochhars and their business entities for “illegal sanctioning of loans amounting to Rs 1,875 crore to the Videocon Group of companies”.

The ED had earlier said an amount of Rs 64 crore, out of the loan amount of Rs 300 crore sanctioned by a committee headed by Chanda Kochhar to Videocon International Electronics Limited, was transferred to Nupower Renewables Pvt Ltd (NRPL) by Videocon Industries Limited on September 8, 2009, just a day after disbursement of the loan by ICICI Bank. NRPL was earlier known as NuPower Renewables Limited (NRL) and is a company of Deepak Kochhar.

(With inputs from agencies)