India, July 20 -- A Delhi appellate tribunal has upheld the Enforcement Directorate's attachment of former ICICI Bank chief Chanda Kochhar's properties worth Rs.78 crore, overturning a Mumbai adjudicating authority's earlier dismissal and ruling there is a "prima facie" money laundering case against her and husband Deepak Kochhar.

The Appellate Tribunal for Forfeited Property (ATFP) said the Rs.64 crore transferred by Videocon Group to Deepak Kochhar's company immediately after ICICI Bank cleared a Rs.300 crore loan to Videocon was "quid pro quo", rejecting Chanda Kochhar's claims that she was unaware of her husband's business dealings.

The tribunal criticised Kochhar for failing to distance herself from the bank's sanctioning committee...