Chanda Kochhar, spouse’s arrest illegal: Bombay High Court
Mumbai, February 6
The Bombay High Court on Tuesday held as “illegal” the arrest of ICICI Bank’s former Managing Director and CEO Chanda Kochhar and her businessman-husband Deepak Kochhar by the CBI in an alleged loan fraud case. A division bench of Justices Anuja Prabhudessai and NR Borkar confirmed a January 2023 interim order passed by another bench granting the duo bail soon after their arrest in the case.
The couple was arrested on December 23, 2022, in connection with the Videocon-ICICI Bank loan case. Apart from the Kochhars, the CBI had also arrested Videocon group founder Venugopal Dhoot in the case. He, too, was granted bail by the HC in January 2023 in its interim order. The CBI has alleged that ICICI Bank had sanctioned credit facilities to the tune of Rs 3,250 crore to Videocon Group companies promoted by Dhoot in violation of norms.
