The Bombay High Court on Monday ordered the release of former ICICI Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar from judicial custody.
The Central Bureau of Investigation (CBI) arrested Chanda Kochhar and Deepak Kochhar arrested the couple on December 23 for their alleged involvement in a fraud case pertaining to loans given to Videocon Group.
The HC observed, “Arrest not in accordance with the law.” The couple has been released from the judicial custody on bond of Rs 1 lakh.
The HC on Friday reserved its order on the petitions filed by Chanda Kochhar and Deepak Kochhar over the issue of alleged “illegal arrest” by the CBI.
