The ED team had brought him to Delhi to confront him with voluminous documents and other materials collected during raids at his office.
Additional Solicitor General Anil Singh and advocate Naveen Kumar Matta, representing the ED, had submitted that throughout the course of the investigation, Deepak had remained evasive and non-cooperative.
"For the same reason, investigation on certain crucial aspects of the case is still ongoing. Deepak Kochhar has deliberately not provided crucial documents/ leads and taken stands contradictory to the records, on one pretext or another, deliberately misled the ED," the lawyers had submitted before the court.
The stand of Deepak Kochhar on certain crucial aspects is contrary to the records of the case, despite being provided with ample opportunities to rebut the same, the lawyer said adding that he also willfully withheld the information which was in his exclusive knowledge.
The ED has also said that there was material in possession and reasons to believe that the Deepak Kochhar is guilty of the offences of money laundering as defined under sections of the Prevention of Money Laundering Act.
The economic offences watchdog had said that Deepak Kochhar is involved in the laundering of the proceeds of crime and has been involved in projecting the proceeds of crime as untainted.
It said that he directly attempted to indulge, knowingly assist, is knowingly a party and is actually involved in process or activity connected with the proceeds of crime and projecting it as untainted property.
He is in fact owning and continuing to enjoy the proceeds of crime generated from the criminal activity related to the scheduled offences in this case, the ED had said.
(Only the headline and picture of this report may have been reworked by the Business Standard staff; the rest of the content is auto-generated from a syndicated feed.)
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