Page 9 - Videocon Group News Today

"The ground for arrest of the petitioners mentioned in the arrest memos is in clear breach of the mandatory provisions," the court said.

The court had yesterday said the reason to arrest the couple after four years of registering the case was not spelt out in the arrest memos, as mandated.

Former ICICI CEO Chanda Kochhar was on Tuesday released from Byculla Prison in connection with an alleged money laundering case, while her husband Deepak Kochhar was released from Arthur Road Jail.

ICICI Bank loan fraud: Court orders release of Kochars from judicial custody

Former ICICI Bank CEO & MD Chanda Kochhar and her husband Deepak Kochhar have been granted bail by the Bombay High Court. -- aaa

A division bench held that the arrest of Kochhars was in violation of Section 41A of the Code of Criminal Procedure

The High Court said that their arrests were not in accordance with the provisions of the Code of Criminal Procedure.

MUMBAI: The Bombay High Court on Monday granted bail to former ICICI bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in the loan fraud case. The couple had filed a petition alleging that it was an illegal arrest. In its interim orders, the division bench of Justice Revati Mohite Dere and Justice Prithvi Raj Chavan stated that the arrests were not in accordance

Chanda Kochhar, former ICICI bank CEO, and her husband Deepak Kochhar will be freed after a court today said their arrests last month were illegal.

Chanda Kochhar, the former Chief Executive Officer of ICICI Bank, and her husband, Deepak Kochhar, are set to go free after a huge reprieve from an Indian court on Monday, according to a Reuters report quoting their lawyer. The High Court of Bombay ruled that the arrests of the Kochhars in connection with an alleged loan fraud case involving the bank and Videocon Group were illegal, according to sources cited by Reuters.