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Bombay HC orders release of former ICICI CEO Chanda Kochhar and her husband, Deepak Kochhar, from judicial custody

The Bombay HC on Monday ordered the release of former ICICI CEO Chanda Kochhar and her husband, Deepak Kochhar, from judicial custody following their arrest by CBI.

By wasmulhaq 
Updated Date

Mumbai: The Bombay High Court on Monday ordered the release of former ICICI CEO Chanda Kochhar and her husband, Deepak Kochhar, from judicial custody following their arrest by the CBI.

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The court stated, “Arrest is not in compliance with the law.” The pair was released from judicial custody after posting a Rs 1 lakh bond.

On Friday, the Bombay High Court postponed making a decision regarding the petitions filed by Chanda Kochhar, the former CEO of ICICI Bank, and her husband, Deepak Kochhar, against an alleged “illegal arrest” by the CBI.The CBI detained the Kochhars on December 25 in relation to the Videocon-ICICI Bank loan issue. The Kochhars also requested for an interim relief order because their son was getting married this month.

The Kochhars’ had said on their part in court that the CBI arrest was illegal on the ground that she was allegedly arrested without compliance under Section 46(4) of the Code of Criminal Procedure as there was no woman police officer present during her arrest.

However, the CBI made it clear in its verdict that there was no violation of statutory or constitutional provisions while the Kochhars were being arrested.

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As per the close sources, the CBI is expected to knock on the door of the Supreme Court shortly, against the Mumbai High Court order.

 

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