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Journalism of Courage
After the Bombay High Court Monday granted bail to them in the Videocon loan fraud case, former ICICI Bank CEO and managing director Chanda Kochhar and her husband Deepak Kochhar were released from their respective jails on Tuesday morning.
While Chanda Kochhar walked out of the Byculla women’s prison in Mumbai, her husband was released from the Arthur Road jail, news agency PTI reported.
The CBI arrested Kochhars on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
The duo had claimed in their pleas that their arrest by CBI in connection with a case related to alleged irregularities in loans provided to Venugopal Dhoot-led Videocon Group was “illegal”. The court granted interim release on bail to Kochhars pending a hearing of their writ petition.
The Kochhars were released on a cash bail of Rs. 1 lakh each. They have been told to cooperate with the Central Bureau of Investigation in the probe.
The ICICI Bank and Chanda have been under regulatory scrutiny after The Indian Express first reported on March 29, 2018, that Dhoot provided crores of rupees to a firm he had set up with Deepak and two relatives, six months after his company got a Rs 3250-crore loan from ICICI Bank in 2012.
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