Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar were released from jail on January 10 morning.
Image Source: IANS
Release
The release came a day after the Bombay High Court granted them interim bail in a loan fraud case.
Image Source: iStock
Jail
Chanda Kochhar walked out of the Byculla women's prison in Mumbai, while her husband was released from the Arthur Road jail.
Image Source: iStock
Petitions
The couple had filed petitions in the Bombay High Court challenging their arrest, terming it as illegal and arbitrary.
Image Source: IANS
Arrest
The CBI arrested Kochhars on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
Image Source: iStock
Bail Reason
The HC granted them interim bail & came down heavily on the CBI for making the arrest in a 'casual and mechanical' manner and without application of mind.
Image Source: iStock
Accusation
The CBI named the Kochhars as accused in FIR linked to the case registered in 2019 under Indian Penal Code sections pertaining to criminal conspiracy and provisions of the Prevention of Corruption Act.
Image Source: BCCL
Violation of norms
The central agency has alleged ICICI Bank, headed by Chanda Kochhar from 2009 to 2018, sanctioned credit facilities to the tune of Rs 3,250 crore to these cos.
Image Source: BCCL
Quid pro quo
Dhoot made an investment of Rs 64 cr in Nupower Renewables through SEPL, and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.
Image Source: ANI
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