Chanda & Aditya Kochhar's arrest in ICICI-Videocon loan fraud is 'Abuse of Power' by CBI: Bombay HC

• The court noted that the CBI had failed to provide substantial evidence for the arrest
• Upholding the bail, the court terms the Kochhars' arrest as an "abuse of power"
• Chanda Kochhar and her husband Deepak Kochhar were arrested in December 2022 in connection with the Videocon-ICICI Bank quid pro quo loan case

The Bombay High Court has upheld the bail of former ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar, denouncing their arrest in the ICICI-Videocon loan fraud case as an "abuse of power" lacking legal merit.

Citing insufficient evidence, the court criticized the Central Bureau of Investigation (CBI) for failing to substantiate the grounds for the arrest.

In a detailed order released on Monday, the court reaffirmed the bail granted to the Kochhars last year. The court noted that the first information report (FIR) was registered against the Kochhars in 2019, however, they were summoned for questioning only in 2022.

“Such routine arrest without application of mind and due regard to the law amounts to an abuse of power,” the bench said. It underlined that the right to silence, as per Article 20(3) of the Indian Constitution, protects individuals from self-incrimination and “should not be misconstrued as non-cooperation”. 

The CBI arrested Kochhars on December 23, 2022, in connection with the Videocon-ICICI Bank quid pro quo loan case. The Kochhars had immediately approached the HC challenging their arrest and sought bail.