InvestorQ : What is the tiff between ED and the Appellate tribunal in the Chanda Kochhar case?
Khushi Patel made post

What is the tiff between ED and the Appellate tribunal in the Chanda Kochhar case?

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Dhwani Mehta answered.
1 month ago
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The Enforcement Directorate or the ED, which normally investigates and prosecutes in cases pertaining to prevention of money laundering or PMLA, is surely upset with the decision of the appellate tribunal to declare Chanda Kochhar and Venugopal Dhoot.

The ED has now moved the appellate tribunal challenging the order of the appellate authority saying that the appellate authority had exceeded its brief in declaring Chanda Kochhar and Venugopal Dhoot as innocent. ED has said that they had not business to downplay the investigations done by the ED and team.

It may be recollected that the adjudicating authority had also dismissed the attachment of properties belonging to Chanda Kochhar and her husband Deepak Kochhar at South Mumbai, which is an extremely tony neighbourhood and was transferred to Deepak Kochhar at a price of Rs.11 lakhs by Videocon.

Therefore, the ED has asked for an immediate stay on the order as being against the spirit of the Prevention of Money Laundering Activities Act or PMLA. ED also is of the view that the appellate authority had exceeded its jurisdiction and its brief and made a cursory enquiry but had conveniently disregarded the documents filed and the data furnished by the ED.

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