A court in Mumbai on Friday granted bail to Videocon Group Chairperson Venugopal Dhoot in the multi-crore ICICI Bank-Videocon money laundering case, Live Law reported.

The special Prevention of Money Laundering Court granted bail to Dhoot on a cash surety of Rs 5 lakh. The court directed him not to leave the country without permission and surrender his passport to the Enforcement Directorate, PTI reported.

The court also instructed Dhoot to appear before ED for investigation in the case, whenever required, according to the news agency.

Dhoot had been issued summons to appear before the court in January along with former ICICI Chief Executive Officer Chanda Kochhar and her husband Deepak Kochhar. Chanda Kochhar appeared before the court last month and was granted bail.

Kocchar stepped down from her position at ICICI Bank in 2018 after questions were raised about a Rs 3,250-crore loan that the bank sanctioned to the Videocon Group in 2012. Six months after the company received the loan, Dhoot allegedly provided crores of rupees to NuPower Renewables, which is founded by Chanda Kochhar’s husband. The Videocon loan from ICICI Bank was part of the Rs 40,000-crore loan that it secured from a consortium of 20 banks.

The Enforcement Directorate had filed a criminal case against them in 2019. The investigation agency has also been probing at least two other instances of advancement of loans by ICICI Bank during Kochhar’s term. One of them was given to Gujarat-based pharmaceutical firm Sterling Biotech and another to Bhushan Steel Group.

In January 2019, the board of ICICI Bank sacked Kochhar and decided to retrieve all bonuses paid to her since 2009. Kochhar moved the Bombay High Court against her termination but her petition was dismissed in March, 2020.

She later approached the Supreme Court, but failed to get any relief there also. Her husband Deepak Kochhar was arrested in the case in September 2020.