Ex-ICICI Bank CEO Chanda Kochhar is released from Byculla jail after the Bombay High Court rules that her arrest was ‘illegal’

Chanda Kochhar, the former CEO and MD of ICICI Bank, was released from Mumbai’s Byculla jail on Tuesday morning.

She came out of jail a day after the Bombay High Court granted her and her husband Deepak Kochhar temporary bail in a loan fraud case.

On December 23, 2022, the couple was detained by the Central Bureau of Investigation (CBI) in connection with the Videocon-ICICI Bank loan case.

While granting bail to Kochhars, the High Court on Monday chastised the CBI for making the arrest in a “casual and mechanical” and mindless manner.