Chanda Kochhar Gets Bail, High Court Terms Arrest As Illegal
the couple submitted an amount of Rs 1 lakh each at the time of bail and submitted their passports in the department
MUMBAI : Former ICICI CEO Chanda Kochhar along with her husband Deepak Kocchar got bailed and walked free out of the jail on 10th of January, Tuesday.
While Deepak was released from Arthur Road Jail, Chanda got freed from Byculla Women's Prison. The decision came out just a day after Bombay high court alleged that the duo's arrest was baseless and illegal.
Arrests by the concerned authorities should not be based on fancy or playful grounds, added the court. The couple was apprehended by Central Bureau of Investigation (CBI) on 23rd of December.
They were arrested in relation to some sort of distortion against more than 3,000 crore loan granted to the Videocon Group. The Kochhars claimed that their arrest was completely illegal.
They argued that, the provisions of Prevention of Corruption Act demands for a sanction to be made by pertinent authorities. Furthermore, the couple submitted an amount of Rs 1 lakh each at the time of bail and submitted their travel document-passports as sureties.
The court stated that, the arrest was not made under the provisions of law, hence the release has been announced. Chanda Kochhar's lawyer asserted absence of a female personnel during the time of arrest which was missing.
She got detained following a mere perfunctory interrogation. However, CBI denied the allegations. The duo partially cooperated with the questions asked and revolved around evasive replies, added CBI.
Chanda and Deepak Kochhar's son is getting married on 15 January, they appealed for bail individually to attend their son's wedding. However, the court denied approval for the same.
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