ICICI CEO and MD, Chanda Kochhar and her husband Deepak Kochhar have been granted bail in a loan fraud case. The case has widely gone viral in the past few months. As per the recent reports, both the victims were granted bail due to no accordance found under the 41A section of the CrPC. The decision was made on Friday in Mumbai High Court. The decision was given by the disciplinary bench attended by Justice Revati Mohite Dere and Justice Prithvi Raj Chavan.
Chanda Kochhar Loan Fraud Case
Chanda Kochhar and Deepak Kochhar were suspected to defraud ICICI bank in a loan case. The loan was given to Videocon’s Venugopal Dhoot in the period of 2009-2012. The case didn’t come into the spotlight until the fraud was suspected by CBI.
BREAKING: CBI to move Supreme Court shortly challenging the bail granted to Chanda Kocchar and Deepak Kocchar by Bombay High Court. pic.twitter.com/IWQUdgeQ2X
— Law Today (@LawTodayLive) January 9, 2023
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The couple was granted bail by the High Court on Friday and by coincidence, their son’s wedding is planned on January 15. However, the court jury clearly stated that they have been granted bail as the case does not find any leads for Section 41A of the CrPC.
Chanda Kochhar was arrested few days prior to her son’s wedding despite the fact that the FIR was lodged four year ago and all the actions seems to take place just before their son’s wedding.
The case was handled by Senior Advocate Amit Desai for Chanda Kochhar and Senior Advocate Vikram Chaudhari handled Deepak Kochhar’s case. Both the victims were under investigation regarding compliance of Section 41A(3) of the CrPC. According to the reports, they are not liable to be arrested and hence they were released on Friday by Mumbai High Court.
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