The Bombay High Court granted the Central Bureau of Investigation (CBI) time till Friday to file its reply to the plea of former ICICI Bank Chief Executive Officer and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, challenging their arrest in an alleged loan fraud case.
The Kochhar couple has moved the HC seeking to quash their remand order, calling their arrest illegal. Seeking their release from jail, they have also submitted that their son is getting married later this month and invitations have already been sent out to guests.
The CBI arrested Chanda and Deepak Kochhar in the case on December 23 following which the couple was sent to jail under judicial custody. On Tuesday, when the HC took up their plea against arrest, the central agency sought time to file its response.
Deepak Kochhar’s lawyer Vikram Chaudhary submitted that the wedding of his client’s son is scheduled for later this month and invitation cards have been distributed. The businessman was called to record his statement in the case, but was instead arrested, said the lawyer.
Chanda Kochhar’s lawyer told the court that the prosecution in a case against her under the Prevention of Money Laundering Act (PMLA) had made a statement that her arrest was not required. The Kochhars have been named accused in a separate case filed under the PMLA against them by the Enforcement Directorate (ED).
The lawyers sought the couple’s interim release on account of their son’s upcoming wedding. However, the high court said the CBI needs to be given time to file its response to the plea, and adjourned the matter till Friday.
The CBI has named the Kochhars, Videocon Group founder Venugopal Dhoot, along with companies Nupower Renewables (NRL), managed by Deepak Kochhar, Supreme Energy Pvt Ltd (SEPL), Videocon International Electronics Ltd. (VIEL) and Videocon Industries Ltd, in its 2019 FIR registered under Indian Penal Code (IPC) sections related to criminal conspiracy and the Prevention of Corruption Act.