India, Nov. 12 -- A special court, constituted under the Prevention of Money Laundering (PMLA) Act, 2002, on Thursday refused to grant bail to Deepak Kochhar, the husband of former ICICI Bank managing director (MD) Chanda Kochhar, in connection with a money laundering case.

Earlier this week, Deepak Kochhar had moved a bail plea on two grounds.

The first ground was failure of the Enforcement Directorate (ED) to submit a charge sheet within the stipulated time frame of 90 days.

The second ground was on the merits of the case and claiming his innocence.

The court on Thursday heard arguments from Deepak Kochhar's lawyers -- Vijay Aggrawal, Rahul Aggrawal and Ashul Aggrawal -- and the ED counsel, Hiten Venegaokar and Sunil Gonsalves.