ICICI Bank Ex-CEO Gets Bail

Chanda Kochhar and her husband's arrest is illegal

On 23 December 2022, the Central Bureau of Investigation (CBI) arrested the Ex-Chief Executive Officer (CEO) and MD of ICICI bank Chanda Kochharat\ and her husband Deepak Kochhar in case of irregularities of loan over 3,000 crores provided to Videocon group.

On 9 January 2023 at 10:30 AM the high court has ordered temporary bail to them claiming that the arrest made by CBI is not according to the law and is illegal.

 As per the division bench of Justice Revati Mohite Dere and Justice Prithvi Raj Chavan the arrest was not per the section 41A and section 41(1) (b) (ii) of the code of criminal procedure, 1973.

Senior Advocate Amit Desai in Chanda Kochhar Case mentioned that the law mandates that a person who complies with the notice must not be arrested unless the officer records reasons.

The case challenged by Senior Advocate Raja Thakare from CBI mentioned that the Chanda Kochhar was not even touched by a male officer as it is a white-collar crime, and they weren’t handcuffed and taken.

Later, the court has given a decision that the temporary bail will be given on the behalf of illegal arrest, not for their son’s wedding as the wedding is scheduled on 15 January.