A Delhi court Friday directed the authorities concerned to withdraw the look out circular (LOC) against Rajiv Kochhar, brother-in-law of former ICICI Bank CEO Chanda Kochhar, in an alleged bank loan fraud and money laundering case.

Special Judge Anju Bajaj Chandna allowed Rajiv, a non-resident Indian, to return to Singapore where he is currently based.

However, taking note of the submissions made by Enforcement Directorate's (ED) special public prosecutor, Nitesh Rana, the court imposed various conditions on the accused.

Rajiv will leave the country only after furnishing a fresh itinerary and giving his address in Singapore, contact numbers and e-mail.

He was also asked to submit photocopies of his passport and bank accounts in India, and to inform ED about his travels outside Singapore.

The court also directed him to furnishing "an unconditional bank guarantee/cash security of Rs 25 lakh to the satisfaction of this court as security for his joining the investigation as and when called upon to do so".

It further directed him not to make any inducement, threat or promise to any person acquainted with the facts of the case in order to dissuade him from disclosing facts to the court or to any police officer.

The court admitted the submissions of senior advocate Geeta Luthra, appearing for Rajiv, that he came to India in response to the summons issued by the ED and joined the probe on various dates.

The application was opposed by Rana, who said LOC was required to ensure his presence before the ED.

Noting the submissions, the court said, "Since the applicant responded to the summons of the ED and made himself available for the purpose of investigation, the purpose of LOC stands served."

Rajiv had moved the court last month seeking cancellation of LOC against him.

According to ED's advocate A R Aditya, Chanda and her husband Deepak, along with Rajiv have been questioned by the ED, which is probing the case under the Prevention of Money Laundering Act (PMLA).

Rajiv has been questioned by the CBI as well in the same case in the past.

He is the founder of Singapore-based Avista Advisory.