Chanda Kochhar Arrest: While hearing the Videocon Loan Case, the Bombay High Court has arrested former MD and CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar. The bail plea of ​​(Deepak Kochhar) has been approved. During the hearing, the court reprimanded the CBI and said that the central investigating agency misused its powers in this case. The division bench of Justices Anuja Prabhudesai and NR Borkar on February 6 approved the bail order given by another bench in January.
CBI failed to present evidence
According to the order made available on Monday, the High Court said that the CBI failed to present such evidence which could prove that this arrest was necessary. Therefore this arrest is considered illegal. The court also refused to accept the CBI's argument that Chanda Kochhar and her husband were not cooperating in the investigation. That's why he had to be arrested. The court said that the accused has the right to remain silent during the investigation as per the Constitution. This cannot be considered as non-cooperation in the investigation. The Kochhar couple were arrested on December 23, 2022 in the Rs 3,250 crore Videocon loan case.
A loan of Rs 3,250 crore was given to Videocon Group
Earlier, a bench of Bombay High Court had declared the arrest of Chanda Kochhar and Deepak Kochhar illegal. The bench had granted bail to the Kochhar couple on January 9, 2023, soon after their arrest. Apart from Kochhar, CBI had also arrested Videocon Group founder Venugopal Dhoot. He was also granted bail by the High Court in an interim order. The CBI had alleged that ICICI Bank had wrongly sanctioned loans worth Rs 3,250 crore to Videocon group companies in violation of banking rules, RBI guidelines and the bank's credit policy. The Kochhar couple were arrested in connection with the alleged fraud in the Videocon-ICICI bank loan case.
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