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Not as per law: HC orders release of Chanda Kochhar, husband in Videocon loan scam

The court has ordered their release in a plea challenging their arrest and claiming it illegal. "Arrest not in accordance with the law," the court observed

January 09, 2023 / 12:08 IST
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Chanda Kochhar: At the centre of one of the biggest banking scams in India

Bombay High Court today granted bail to former ICICI Bank chief Chanda Kochhar and her husband Deepak Kochhar in the Rs 3,250-crore Videocon fraud loan case.

The court has ordered their release in a plea challenging their arrest and claiming it illegal. "Arrest not in accordance with the law," the court observed. It also asked the Kochhars to surrender their passports to the CBI.

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While Chanda Kochhar has been lodged at Byculla district jail (women's jail), Deepak Kochhar was at Arthur Road jail.

Read: Rs 3,250 crore ICICI Bank-Videocon loan case: CBI arrests former CEO Chanda Kochhar, husband Deepak Kochhar