SC disposes of CBI's plea against interim bail to Chanda Kochhar & her husband

The Supreme Court has dismissed the CBI's plea challenging the Bombay High Court's interim bail order for former ICICI Bank CEO Chanda Kochhar and her businessman-husband Deepak Kochhar in a loan fraud case

New Delhi:The Supreme Court on Monday disposed of the CBI’s plea against an order passed by the Bombay High Court, in 2023, granting interim bail to former ICICI Bank CEO and MD Chanda Kochhar and her businessman-husband Deepak Kochhar in the loan fraud case.

Additional solicitor general SV Raju, representing the CBI, submitted before a bench comprising justices Bela M Trivedi and Pankaj Mithal that last week the High Court had delivered its verdict in the main case, but the judgment has not been uploaded so far. After hearing brief submissions in the matter, the bench said it is disposing of the CBI’s plea, but either side will have the liberty to challenge the High Court's main verdict in accordance with the law. The apex court made it clear that it has not expressed any opinion on the merits of the case.

The couple was arrested by the CBI on December 23, 2022, in the Videocon-ICICI Bank loan case. The High Court, on February 6, held the arrest of Chanda Kochhar and her husband by the CBI as “illegal”, and confirmed its January 2023 interim order granting bail to the couple. After their arrest, the Kochhar couple moved to the High Court challenging their arrest and sought it to be declared illegal. They also sought to be released on bail as an interim relief.

The High Court passed an interim order in January 2023, granting bail to the couple and pulled up the CBI for arresting in a “casual and mechanical” manner without application of mind. The probe agency challenged this interim order before the apex court.