Mumbai: Former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar have been released from jail. On Tuesday, Chanda Kochhar came out of Mumbai's Byculla Women's Jail, while her husband Deepak Kochhar was released from Arthur Road Jail. After coming out of jail, Chanda Kochhar's picture surfaced, in which she was seen hugging her son.
Chanda Kochhar and her husband Deepak Kochhar were granted bail by the Bombay High Court on January 9. The Bombay High Court, while granting bail to the duo, had said that their arrest was not in accordance with the law. The Bombay High Court had ordered the CBI to release Chanda Kochhar and her husband from CBI custody. The court had granted them bail on a bond of Rs 1 lakh. According to CBI sources, the investigating agency is planning to approach the Supreme Court against this decision of the Bombay High Court.
In December 2022, the CBI arrested former ICICI Bank MD and CEO Chanda Kochhar and her husband Deepak Kochhar in connection with the Videocon loan case. It is alleged that when Chanda Kochhar was taking charge of ICICI Bank, she gave a loan to the Videocon group. In return, NuPower Renewables, a company owned by Chanda's husband Deepak Kochhar, received an investment from Videocon. According to the news, in 2012, the Videocon Group was given a loan by ICICI Bank. Which later became NPA and later it was called 'bank fraud'. In September 2020, the Enforcement Directorate arrested Deepak Kochhar. In fact, in 2012, Chanda Kochhar-led ICICI Bank gave a loan of 3,250 crores to Videocon Group and six months later, Venugopal Dhoot-owned Messrs Supreme Energy gave a loan of 64 crores to Messrs NuPower Renewables, in which Deepak Kochhar holds 50 percent.