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Bombay High Court Declared CBIs Arrest For Fmr ICICI Bank CEO And MD Chanda Kocchar, Her Husband Deepak Kocchar As 'Illegal'; Abuse Of Process
The Business Guardian
|February 21, 2024
The Bombay High Court in the case observed and has ordered the arrest of former ICICI bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar by CBI 'illegal,' the court called the investigating agencies acts an 'abuse of power.'
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The Division bench comprising of Justice Anuja Parbhudessai and Justice NR Borkar in the case observed that such routine arrest without application of mind and due regard to the law amounts to an abuse of power and it does not satisfy the requirement of Section 41A(3) of the Code of Criminal Procedure, CrPC.
The court in the case noted that the couple was arrested by the CBI on December 23, 2022, just a couple of weeks before the wedding of their son.
Three years after an FIR was registered against the couple in the ICICI Bank Videocon Loan Fraud Case.
Therefore, the couple approached the High Court soon after the arrest of them.
The Coordinate bench of the court granted the couple interim bail and has held their arrest to be prima facie illegal.
This story is from the February 21, 2024 edition of The Business Guardian.
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