Highlights

  • ICICI Bank ex-CEO to be released from custody
  • Chanda Kochhar, husband's release ordered
  • Bombay HC said CBI arrest not as per law

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Interim relief for Chanda Kochhar, husband: Bombay HC grants bail, says CBI arrest not as per law

The court said that arrest of the Kochhars violated Section 41A of the Code of Criminal Procedure (CrPC).

Former CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar secured interim relief after the Bombay High Court granted them bail on 9 January 2023.

The court said that arrest of the Kochhars by the Central Bureau of Investigation (CBI) was not as per law, since it violated Section 41A of the Code of Criminal Procedure (CrPC). The section mandates sending notice for appearance before the police officer concerned.

The bench directed the duo to deposit a cash bail amount of Rs one lakh each. The couple's lawyer later said they would now initiate the process before the special CBI court for their release.

The HC said the duo shall cooperate with the probe and attend the CBI office as and when summoned. The court also asked the Kochhars to surrender their passports to the CBI.

The Kochhars were arrested on 23 December 2022 in the ICICI Bank-Videocon loan case. They are presently in judicial custody.

Apart from the Kochhars, the CBI has also arrested Videocon group founder Venugopal Dhoot in the case. He is also in judicial custody.

(With PTI inputs)

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