Close X
Saturday, November 23, 2024
ADVT 
India

Bombay High Court terms Chanda, Deepak Kochhar's arrests 'illegal', confirms interim bail

Darpan News Desk IANS, 06 Feb, 2024 11:37 AM
  • Bombay High Court terms Chanda, Deepak Kochhar's arrests 'illegal', confirms interim bail

Mumbai, Feb 6 (IANS) The Bombay High Court on Tuesday termed the arrests of ex-ICICI Bank CEO and MD Chanda Kochhar and her businessman husband Deepak Kochhar as "illegal" and confirmed the 2023 interim bail order.

The Kochhar couple was arrested in the ICICI Bank-Videocon loan fraud case, and in January 2023, a bench of Justice Revati Mohite-Dere had granted them interim bail order.

A division bench of Justices Anuja Prabhudesai and Nitin R. Borkar confirmed the January 2023 interim bail order on Tuesday, after they completed the hearing last month and reserved the verdict.

Last year Justice Mohite-Dere had questioned the Central Bureau of Investigation (CBI) why the investigation into the case took so long while the FIR was lodged in 2019, while granting the interim bail to the Kochhars who were arrested on December 23, 2022, pending their plea.

The court held in its interim order that the Kochhar’s arrests were not in accordance with the relevant laws, and the reason to arrest them four years after the probe was launched was "not spelt out" in the arrest summons.

At that time, Chanda Kochhar's lawyer, senior advocate Amit Desai had informed the court that his client had fully cooperated with the CBI but no investigations took place for over three years till the first half of 2022, and that her arrest was illegal and violated provisions of the CrPC.

He also argued that no woman police officer was present at the time of Chanda Kochhar’s arrest, while her husband was an independent businessman and she had not shared any details pertaining to the bank with him.

CBI lawyer Kuldeep Patil argued that the interim bail order only considered the arrest memos but not the case diaries and remand applications that proved the Kochhars were not cooperating with the probe agency.

The CBI had challenged the interim bail order in the Supreme Court which directed the agency to argue the matter before the Bombay HC.

In January 2018, the CBI launched its probe against the Kochhars following an expose that Videocon Group’s chief Venugopal Dhoot had allegedly diverted loan amounts he got from the ICICI Bank in 2012 to a company he had formed with Deepak Kochhar and others.

The alleged irregularities pertained to granting six high-value loans worth around Rs 1,575 crore to five Videocon Group companies between June 2009-October 2011, reportedly flouting the rules and policy of the bank’s sanctioning committee.

Later, the loans became NPAs and resulted in a huge loss of over Rs 1,730 crore to the ICICI Bank by April 2012.

MORE India ARTICLES

Delhi HC urges swift decision from EC on Rahul Gandhi's 'pickpocket' jibe at PM

Delhi HC urges swift decision from EC on Rahul Gandhi's 'pickpocket' jibe at PM
The Delhi High Court on Thursday asked the Election Commission to promptly decide, preferably within eight weeks, on the notice issued to Congress leader Rahul Gandhi, noting that the alleged statements are "not in good taste". This notice is in relation to Gandhi's alleged "pickpocket" comment directed at Prime Minister Narendra Modi during a speech last month.

Delhi HC urges swift decision from EC on Rahul Gandhi's 'pickpocket' jibe at PM

Mumbai NCB busts India-Australia drug ring, seizes large cache of narcotics

Mumbai NCB busts India-Australia drug ring, seizes large cache of narcotics
The Narcotics Control Bureau's Mumbai Zonal Unit has busted an India-Australia drug syndicate and effected seizures of a large quantity of narcotics valued at over Rs 3 crore, besides nabbing 3 persons, officials said here on Thursday. In a strategic investigation based on previous probes, the NCB-MZU has laid bare the international network of operatives involved in smuggling of pharmaceutical drugs from India to Australia.

Mumbai NCB busts India-Australia drug ring, seizes large cache of narcotics

Air quality dips to 'severe' levels at several sites in Delhi

Air quality dips to 'severe' levels at several sites in Delhi
The air quality in several areas of the national capital continues to remain under the "severe" category as per data from several AQI stations across the city on Thursday. Meanwhile, the India Meteorological Department said that the maximum temperature was recorded at 23 degrees Celsius, a notch above the seasonal average and predicted that the minimum temperature is likely to dip to five degree Celsius during the night.  

Air quality dips to 'severe' levels at several sites in Delhi

Delhi govt to introduce 'Anywhere Registration' policy for properties

Delhi govt to introduce 'Anywhere Registration' policy for properties
The Revenue Department of Delhi government has decided to introduce the 'Anywhere Registration' policy for properties in the national capital, an official said on Thursday. According to the policy, if people want to register their properties, they can go to any Sub-Registrar Office in Delhi. Now, individuals will not be restricted to a specific Sub-Registrar Office for property registration.

Delhi govt to introduce 'Anywhere Registration' policy for properties

Gangster tries to flee from police custody, shot dead in Amritsar

Gangster tries to flee from police custody, shot dead in Amritsar
A gangster was shot dead on Wednesday by the Punjab Police in Amritsar as he tried to flee after opening fire at the police after taking an advantage of dense fog. An encounter between Amritpal Singh Amri and the police occurred in the Jandiala Guru area.  

Gangster tries to flee from police custody, shot dead in Amritsar

Delhi Metro to give Rs 15L compensation to kin of woman dragged along platform

Delhi Metro to give Rs 15L compensation to kin of woman dragged along platform
The Delhi Metro Rail Corporation (DMRC) will provide a compensation of Rs 15 lakh to the next of kin of a woman passenger, who died following a mishap at the Inderlok Metro station last week, an official said. The 35-year-old woman succumbed to injuries at a hospital on December 16, which she sustained when her saree and jacket got stuck in the door of a Delhi Metro train following which she got dragged by the train for several metres.

Delhi Metro to give Rs 15L compensation to kin of woman dragged along platform