New Delhi: The Supreme Court has issued a notice to former ICICI Bank CEO Chanda Kochhar following a request by the Central Bureau of Investigation (CBI) to cancel her bail. This move comes in connection with the ongoing investigation into the Videocon loan fraud case.
The court, led by Justice Sanjiv Khanna, will review the CBI’s petition challenging the Bombay High Court's decision, which had previously confirmed an interim bail granted to Chanda Kochhar and her husband, Deepak Kochhar. Justice Sanjay Kumar is also part of the bench handling the case.
The notice has been directed to Chanda Kochhar, Deepak Kochhar, and the Maharashtra government. Additionally, the case has been combined with the matter involving Videocon Group chairman Venugopal Dhoot, whose bail is also contested by the CBI.
The Supreme Court ordered that notices be served by all methods, including personal delivery, and has allowed delays in serving these notices.
During the proceedings, Additional Solicitor General S.V. Raju, representing the CBI, informed the court that a charge sheet had been filed against the accused, and Chanda Kochhar had been in custody for a short period.
In a ruling on February 6, the Bombay High Court upheld the interim bail order granted in January last year. The court criticized the arrest made on December 23, 2022, stating that it was based on previously known material and lacked additional supporting evidence. The High Court viewed this as a misuse of authority and a failure to meet legal requirements for arrest under Section 41A(3) Cr.P.C.
Earlier this year, the Supreme Court had dismissed the CBI’s petition against the Bombay High Court’s January 2023 decision. However, it permitted the CBI to file a new appeal regarding the final decision that affirmed the interim bail for the Kochhars. The allegations against Chanda Kochhar and her husband involve receiving kickbacks during her tenure in exchange for loans to the Videocon group.
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