Lagatar24 Desk
New Delhi, Jan 10: Chanda Kochhar, the former CEO and MD of ICICI Bank, and her husband Deepak Kochhar were granted bail in a loan fraud case and were subsequently released from Mumbai jail.
Today, Chanda Kochhar was allowed to leave the Byculla women’s prison. Additionally, Deepak Kochhar was freed from the Arthur Road jail.
Former ICICI Bank Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar were given bail on Monday by the Bombay High Court.
“Arrest not in accordance with the law,” Bombay HC observed while granting bail to them yesterday.
ICICI bank-Videocon loan fraud case| Ex-ICICI CEO Chanda Kochhar (in top 2 pics) released from Byculla Prison & her husband Deepak Kochhar (bottom pics) released from Arthur Road prison
"Arrest not in accordance with the law," Bombay HC observed while granting bail to them y'day pic.twitter.com/341Xx2HAau
— ANI (@ANI) January 10, 2023
They stated that it was ‘illegal’ for the CBI to have arrested them for alleged irregularities in loans given to the Venugopal Dhoot-led Videocon Group. The two spent roughly a week in CBI remand before being placed in judicial custody.
The CBI detained Kochhars on December 25 in relation to the Videocon-ICICI Bank loan issue. The Kochhars also requested temporary assistance because their son was getting married this month.
Chanda Kochhar claimed at the hearing that the CBI arrest was arbitrary and unlawful on the grounds that she had been detained in violation of Section 46(4) of the Code of Criminal Procedure since a female police officer had not been present at the time of her detention. Chanda’s arrest memo was alleged not to have listed any female police officers by name.
