Chanda Kochhar has rejected all allegations of corruption in the case.
New Delhi:
A day after the Bombay High Court declared her arrest illegal and ordered that she and her husband be released, former ICICI Bank CEO Chanda Kochhar left prison today. She along with her husband Deepak Kochhar was arrested on December 23 by the Central Bureau of Investigation (CBI) in a case related to alleged irregularities in a loan of more than Rs 3,000 crore which was provided to the Videocon Group when she was at the head of the private sector. Bank.
The relief comes just days before her son’s Jan. 15 wedding.
The court had said yesterday that the reason for arresting the couple after four years of recording the case had not been stated in the arrest memos, as it was required to do. “The grounds for the detention of the petitioners mentioned in the arrest memos are clearly contrary to the mandatory provisions,” the ministry said.
The Supreme Court also said that just because “a suspect does not confess, it cannot be said that the suspect has not cooperated with the investigation”.
The Kochhars had previously argued in court that their arrest was illegal as under the Prevention of Corruption Act, sanctions under Sec 17A of the Act are required to conduct an investigation, and the agency has no such sanction to conduct this investigation to start.
Venugopal Dhoot, chairman of the Videocon Group, was also arrested by the CBI in the ICICI loan case.
Chanda Kochhar has rejected all allegations of corruption in the case.
