No relief to Kochhars from Bombay HC
On Tuesday, Chanda Kochhar and her businessman husband Deepak Kochhar challenged their arrest by the Central Bureau of Investigation (CBI) in the murky loans given to the Videocon Group’s Venugopal Dhoot in Bombay High Court, however, the court gave them no interim relief.
The petition by the Kochhars came up before a vacation bench of Justice Madhav Jamdar and Justice S G Chapalgaonkar but they declined to grant an urgent hearing in the matter.
The Kochhars and Venugopal Dhoot are currently in CBI custody till December 28 (Wednesday). They were arrested on Saturday and Monday respectively and remanded by a Mumbai Special CBI Judge A S Sayyad to the agency’s custody.
The Kochhars’ lawyer Kushal Mor contended that their arrest was illegal as the CBI has not obtained proper sanction as mandated under the Prevention of Corruption Act, Section 17A for nabbing a public servant, and the action was taken four years after the FIR was lodged, violating CrPC Section 41A.
He urged the court to take up the matter for urgent hearing and quash the remand order to set free the Kochhars till the petition was finally heard.
The judges said that the plea did not merit an urgent hearing and directed Mor to approach the regular high court bench for bail after the courts reopen next month.
Chanda Kochhar was arrested in connection with the alleged cheating and irregularities in an Rs.3,250 crore ICICI Bank loan extended to Videocon Group in 2012, which became a non-performing asset by 2017
[With Inputs from IANS]
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