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April 22, 2024 10:03 pm

Chanda Kochhar, husband Deepak Kochhar released from jail in loan fraud case

Mumbai, January 10

Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar were released from jail on Tuesday morning, a day after the Bombay High Court granted them interim bail in a loan fraud case, a police official said.

Chanda Kochhar walked out of the Byculla women’s prison in Mumbai, while her husband was released from the Arthur Road jail, the official said.

The CBI arrested the Kochhars on December 23, 2022, in connection with the Videocon-ICICI Bank loan case.

The couple had filed petitions in the Bombay High Court challenging their arrest, terming it illegal and arbitrary.

The High Court on Monday granted them interim bail and came down heavily on the CBI for making the arrest in a “casual and mechanical” manner and without application of mind.

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