Loan Fraud Case Chanda Kochhar: Chanda released from jail before son’s marriage, Kochhar’s family is relieved for now – mssewb.org

Former managing director and CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar, the prime accused in the loan fraud case, were released from jail on Tuesday.

Chanda Kochhar.
Chandar is released from jail before his son’s marriage

Highlights

  • Before the son’s marriage, relief was found in Kochar-family!
  • Former managing director and CEO of ICICI Bank Chanda Kochhar, the prime accused in the loan fraud case, was released from jail.
  • They were released from jail on Tuesday.
Loan Fraud Case Chanda Kochhar: Kochhar family got relief before son’s marriage! Because Chanda Kochhar, former managing director and CEO of ICICI Bank, the main accused in the loan fraud case, has been released from jail for the time being. On Monday, the Mumbai High Court said that the CBI arrest of Chanda Kochhar and her husband Deepak Kochhar was illegal. Based on that, the court granted their bail application. They were released from jail on Tuesday. Incidentally, the wedding of the son of the former MD and CEO of ICICI Bank will take place on January 15. A doubt arose over the presence of the Kochhar couple at a family function. But finally the order of the Mumbai High Court on Monday cleared that doubt. As a result, there is naturally a happy atmosphere in the family environment. Incidentally, during the hearing of the case, it was informed by the court on Monday, that a case was filed against the Kochars 4 years ago. But when they were arrested by the CBI on December 23, the reason for the arrest was not mentioned in the arrest memo. But it should be done compulsorily. In the court’s terms, the arrest clearly violated the rules.

Incidentally, as the reason for the arrest of the Kochhar couple, the CBI also claimed that they were arrested for non-cooperation in the investigation. In view of which the court significantly commented, ‘Just because an accused has not confessed does not mean that he or they have not cooperated with the investigation.’ However, the Kochhar couple always approached the court against the CBI arrest arguing that they were illegally arrested by the CBI. Because, arrest requires approval of investigative agency. However, they did not have the approval of the superiors to start the investigation. Incidentally, on December 23, the court arrested Chanda Kochhar and her husband Deepak Kochhar as the main accused in the loan fraud case. The main allegation against them was that Chanda Kochhar, while MD of ICICI Bank, misused her position to illegally obtain a loan of around Rs 3,000 crore to the Videocon group.

Instead, the Kochhar couple received benefits from the Videocon group. The CBI alleged that Videocon Group founder and CEO Venugopal Dhoot gave Chanda Kochhar luxury flats, properties and also gave money to companies run by Deepak Kochhar. In view of which the founder of Videocon Group, Benugopal Dhoot, was also arrested the day after the arrest of the Kochhars. However, all the allegations have been denied by the accused.

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