The Monetary Board of the Central Bank of Sri Lanka, having considered the request made by ICICI Bank, has granted approval to close down.
The Enforcement Directorate, represented through Central government standing counsel Amit Mahajan, filed a status report raising preliminary objection on the maintainability of the petition.
Senior advocate Mukul Rohatgi, appearing for Kochhar, sought quashing of ECIR registered by the ED saying it was bad in law and that Kochhar was not informed about the grounds of arrest in writing.
Kochhar, presently admitted at the National Cancer Institute (NCI) run by AIIMS at Jhajjar in Haryana, wanted to be shifted to a private hosopital.
The bank already had an offering for start-ups that also included a current account. Other lenders also have dedicated accounts for the start-ups.
ED initiated an investigation after registering a case under PMLA on the basis of FIR for illegal sanctioning loans amounting to Rs 1,875 crore to Videocon Group of companies.
They said Deepak Kochhar was arrested by the agency in Mumbai under sections of the Prevention of Money Laundering Act (PMLA).
Earlier on Wednesday, the board of directors of ICICI Bank had approved the sale of shares in the subsidiary to comply with the minimum public float requirement.
ICICI Bank recently raised about Rs 15,000 crore through the issuance of 41.89 crore equity shares at an issue price of Rs 358 per unit.
In March, the Chinese bank increased its stake in home loan lender HDFC Ltd to over 1 per cent, creating a flutter in the Indian market.
During the share sale, Monetary Authority of Singapore picked up 4.6 crore shares, representing 11.06 per cent of the QIP size.
The sale resulted in net gain of Rs 3,036.29 crore in standalone financial results and Rs 2,715.87 crore in consolidated financial results for Q1FY21.
While announcing its results for 2019-20 on May 9, ICICI Bank had said it would look at further strengthening the balance sheet as opportunities arise.
While announcing its results for the quarter ended March 2020 on May 9, 2020, the bank had stated that it would look at further strengthening the balance sheet as opportunities arise.
After touching a high of 33,334.96 in opening session, the 30-share index was trading 859.14 points or 2.65 per cent higher at 33,283.24.