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

Chanda Kochhar was released from jail a day after the Bombay High Court granted her and her husband Deepak Kochhar interim bail in a loan fraud case.

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.

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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.