Following their arrest by the CBI, Chanda Kochhar, the former CEO of ICICI, and Deepak Kochhar were ordered to be released from detention by the Bombay High Court on Monday.
Web Desk for India Today Following their arrest by the CBI, Chanda Kochhar, the former CEO of ICICI, and Deepak Kochhar were ordered to be released from detention by the Bombay High Court on Monday.
The court stated, “Arrest not in compliance with the law.” The pair was freed from judicial detention after posting a Rs 1 lakh bail.
On Friday, the Bombay High Court postponed making a decision about the petitions Chanda Kochhar, the former CEO of ICICI Bank, and her husband Deepak Kochhar filed against an alleged “illegal arrest” by the CBI.
The CBI detained Kochhars on December 25 in relation to the Videocon-ICICI Bank debt issue. The Kochhars also requested a temporary restraining order since their son was getting married this month.
The Kochhar family had contended in court that the CBI arrest was arbitrary and unlawful on the grounds that she had been detained in violation of Section 46(4) of the Code of Criminal Procedure since a female police officer was not present throughout her detention.
The CBI, however, has disputed that the Kochhars’ detention had violated any laws or the constitution.
According to sources who spoke to India Today, the CBI would likely petition the Supreme Court soon to overturn the court ruling.
