Bombay HC orders release of ex-ICICI CEO Chanda Kochhar and Deepak Kochhar in Videocon loan fraud case

The Bombay High Court granted interim relief to former ICICI Bank MD & CEO Chanda Kochhar and her husband Deepak Kochhar in the ICICI Bank-Videocon case.

The court has ordered their release in the plea challenging their arrest and claiming it was an illegal arrest. Arrest not in accordance with the law, the Court observed. The court also asked Kochhars to surrender their passports to the CBI.

The CBI had booked Chanda Kochhar, her husband and Venugopal Dhoot of Videocon Group, along with companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of the Prevention of Corruption Act.

ICICI bank-Videocon loan fraud case | Bombay High Court allows release of former ICICI CEO Chanda Kochhar and Deepak Kochhar from judicial custody after CBI arrest.

"Arrest not in accordance with the law," the Court observes. pic.twitter.com/t7luYN5Fsr

— ANI (@ANI) January 9, 2023