38.6c New Delhi, India, Wednesday, December 11, 2024
Breaking News
Top Stories Supreme Court
Political NEWS Legislative Corner Celebstreet International Videos
Subscribe Contact Us
close
Judiciary

Bombay HC says Chanda Kochhar, Husbands arrest by CBI in ICICI-Videocon loan case illegal

By Rintu Mariam Biju      06 February, 2024 08:30 PM      0 Comments
Bombay HC says Chanda Kochhar Husbands arrest by CBI in ICICI Videocon loan case illegal

Mumbai: In a major relief to former ICICI bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar, the Bombay High Court on Tuesday declared the duos arrest in the 'ICICI Bank - Videocon Loan Fraud Case' as illegal. 

We have confirmed an interim bail order. Order same as previous interim order of January, 2023, said a bench of Justices Anuja Prabhudessai and Nitin R Borkarn said while confirming an earlier interim order. 

The couple was set free from arrest by virtue of the interim order in January, 2023 after a coordinate bench held their arrest was prima facie not in accordance with section 41A and section 41(1)(b)(ii) of the CrPC.

On December 24, the Central Bureau of Investigation arrested Chanda and Deepak Kochhar on charges of fraud and irregularities pertaining to a 3,250 crore loan that was given to the Videocon Group in 2012. The complainant had claimed that the transactions had benefitted Kochhar's spouse and her relatives.

It was claimed that Kochhar approved a loan for the Videocon Group of Companies while she was in charge of affairs at ICICI Bank. Her husband's business, Nu Renewable, is said to have gotten funding from Videocon as payment in exchange. Later, the loan was declared bank fraud and became a non-performing asset (NPA).

After initial CBI custody, the special CBI court had remanded them to judicial custody on December 29. After which, they moved High Court seeking to quash the case, to declare their arrest illegal and release from detention as part of this plea, the 2023 interim order was passed and was extended from time to time. 

Arguments made at the final hearing today

Appearing for Chanda Kochhar, Senior Advocate Amit Desai clarified that they arent seeking for the FIR be quashed by the court. The Court was told that the duo submitted a new appeal contesting ICICI Bank's approval of their previous CEO and MD's prosecution.

However, Desai maintained that the Kochhars had been unlawfully detained, in violation of the provisions in Code of Criminal Procedure. 
He also referred to the January 2023 interim order. It was highlighted that even the division bench had observed that the Kochhars' identical arrest memos lacked the particular grounds for arrest required by Section 41 of the CrPC (notice to be issued before arrest).

Presenting CBIs arguments, Advocate Kuldeep Patil countered that the arrest note was the only thing taken into consideration by the interim decision and that neither the case diary nor the remand motion were considered by the Court (while granting interim relief).

He said that evidence of non-cooperation was included in the chargesheet against Chanda Kochhar as well.

Additionally, he refuted Desai's claim that Kochhar had not been taken into custody by a female officer. 



Share this article:

About:

Rintu Mariam Biju graduated from the National University of Advanced Legal Studies, Kochi after comp...Read more

Follow:
FacebookTwitterLinkedinInstagram


Leave a feedback about this
Related Posts
View All

Kedarnath Movie: Bombay High Court Dismisses PIL To Stay Release Kedarnath Movie: Bombay High Court Dismisses PIL To Stay Release

The Bombay High Court on December 6, 2018, dismissed a petition filed against upcoming movie Kedarnath seeking a direction to stay the release of the movie

Husband Can Also Claim Alimony/Maintenance From Wife: Bombay High Court Orders Woman To Pay Alimony To Ex-Husband [Read Order] Husband Can Also Claim Alimony/Maintenance From Wife: Bombay High Court Orders Woman To Pay Alimony To Ex-Husband [Read Order]

Husband Can Also Claim Alimony/Maintenance From Wife: Bombay High Court Orders Woman To Pay Alimony To Ex-Husband || "It is open for the court to decide the application filed by the husband under Section 25 of the 1955 Act, seeking monthly maintenance, by way of final proceedings, pending which, the application for interim maintenance filed under Section 24 of the Act of 1955, has been rightly entertained by the learned Judge and the husband has been held entitled to interim maintenance while the proceedings under Section 25 are pending," she noted.

Maharashtra Cabinet Minister Nawab Malik Approaches Supreme Court Against ED Arrest After Bombay High Court Refuses Relief Maharashtra Cabinet Minister Nawab Malik Approaches Supreme Court Against ED Arrest After Bombay High Court Refuses Relief

Maharashtra Cabinet Minister Nawab Malik Approaches Supreme Court Against ED Arrest After Bombay High Court Refuses Relief || "There is something or the other going against every leader of the NCP, Congress and Shiv Sena... Prime Minister Narendra Modi has one thing in mind: he wants BJP rule from Kashmir to Kanyakumari, irrespective of the wishes of the people," Pawar said.

Salman Khan Approaches Bombay High Court Challenging Summons By  Lower Court Against Complaint of a Journalist Salman Khan Approaches Bombay High Court Challenging Summons By Lower Court Against Complaint of a Journalist

The magistrate court issues the process if it finds prima facie substance in the allegations made in the complaint. Once the process is issued, the accused persons have to appear before the court.

TRENDING NEWS

world-bank-arbitration-scandal-shows-why-global-institutions-must-change
Trending International
World Bank Arbitration Scandal Shows Why Global Institutions Must Change

The World Bank arbitration scandal exposes corruption in ICSID’s €110M ruling, fueling BRICS-led calls for global institutional reforms and equitable governance.

10 December, 2024 04:17 AM
worship-vs-prayer-constitutional-insights-into-the-places-of-worship-act
Trending Judiciary
Worship vs. Prayer: Constitutional Insights into the Places of Worship Act

Exploring the constitutional intricacies of the Places of Worship Act, 1991—distinguishing ‘Worship’ from ‘Prayer’ and examining its legal and historical implications.

10 December, 2024 11:34 AM

TOP STORIES

sc-transfers-probe-into-2-firs-against-bjp-leader-to-cbi-due-to-politically-charged-atmosphere-in-wb
Trending Judiciary
SC transfers probe into 2 FIRs against BJP leader to CBI due to politically charged atmosphere in WB [Read Judgment]

SC transfers probe into 2 FIRs against BJP leader Kabir Shankar Bose to CBI, citing politically charged atmosphere in West Bengal for a fair investigation.

05 December, 2024 02:10 AM
justice-manmohan-sworn-in-as-supreme-court-judge-boosting-sc-strength-to-33
Trending Legal Insiders
Justice Manmohan sworn in as Supreme Court judge, boosting SC strength to 33

Justice Manmohan sworn in as SC judge, raising the Supreme Court’s strength to 33. A seasoned jurist, he brings decades of legal expertise to the bench.

05 December, 2024 02:51 AM
cant-claim-parity-with-other-ministers-sc-to-ex-wb-minister-partha-chatterjee-reserves-order-on-bail-in-teachers-recruitment-scam
Trending Judiciary
'Can't claim parity with other Ministers,' SC to ex WB Minister Partha Chatterjee; reserves order on bail in teachers recruitment scam

SC tells ex-WB Minister Partha Chatterjee he can’t claim parity with TN Minister Senthil Balaji in bail plea; reserves verdict in teachers’ recruitment scam.

05 December, 2024 04:48 AM
have-sympathy-why-drag-soldiers-widow-to-court-sc-slaps-rs-50k-cost-on-centre-for-denying-liberalised-pension
Trending Judiciary
‘Have sympathy, why drag soldier's widow to court,' SC slaps Rs 50k cost on Centre for denying liberalised pension [Read Judgment]

SC slams Centre for denying liberalised pension to soldier’s widow; imposes ₹50k cost, orders pension disbursal in 3 months for ‘Battle Casualty’ case.

05 December, 2024 04:50 AM

ADVERTISEMENT


Join Group

Signup for Our Newsletter

Get Exclusive access to members only content by email