Arrest of Chanda Kochhar, Her Husband in Loan Fraud Case Amounted to Abuse of Power by CBI: HC
Apart from the Kochhars, the CBI had also arrested Videocon group founder Venugopal Dhoot in the case
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Apart from the Kochhars, the CBI had also arrested Videocon group founder Venugopal Dhoot in the case
The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the CBI in a loan fraud case was "without application of mind and due regard to the law".
The CBI's allegations against the Kochhars and others involved the sanctioning of credit facilities in violation of banking regulations and policies.
A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail
"Such routine arrest without application of mind and due regard to the law amounts to an abuse of power," the court said.