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‘Will move application in HC’: CBI to SC on repeated extension of interim bail to former ICICI Bank CEO Chanda Kochhar

The Central Bureau of Investigation on Friday informed the Supreme Court that it will submit an application to the Bombay High Court to vacate the interim bail granted to former ICICI Bank Managing Director and CEO Chanda Kochhar.

Also Read: Chanda Kochhar, husband bought 5.3 crore flat for merely 11 lakh: CBI tells court

The CBI’s action came in response to the Supreme Court’s question as to why the agency was not objecting to the continuation of interim bail granted by the high court to Kochhar in January this year in the ICICI Bank-Videocon loan fraud case.

Moreover, the apex court declined to entertain the plea of the former ICICI Bank Managing Director and CEO, Chanda Kochhar, seeking retirement benefits from the bank. 

Also Read: ICICI Bank loan fraud: CBI files charge sheet against Chanda Kochhar, husband Deepak Kochhar and Venugopal Dhoot

The bench comprising of Justice Bela M Trivedi and Satish Chandra Sharma was hearing the special leave petition of CBI against an order passed by the Bombay HC. The order, released in January, had directed the release of Kochhar and her husband. 

Also Read: ICICI Bank’s biz loan to Videocon turned into NPAs of over 1,000 crore: CBI

The Supreme Court will continue hearing the arguments on Monday.

In another hearing on the same day, the apex court rejected Chanda Kochhar’s plea for retirement benefit from the ICICI Bank.

“Not a case for interference. We are not inclined to interfere with the high court order. The special leave petition is dismissed,” stated a bench comprising Justices Sanjiv Khanna and SVN Bhatti on Friday.

Earlier, the Supreme Court had questioned the CBI over not objecting to the repeated extension of the two-week interim bail granted in January this year to former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar in a loan fraud case.

A bench of Justices Aniruddha Bose and Bela M Trivedi had asked Additional Solicitor General SV Raju, appearing for the CBI why the probe agency is not objecting to the repeated extension of interim bail granted to them by the Bombay High Court on January 9. 

“This order is of January 9 and interim bail was granted for only two weeks. Why have you not resisted? Why are you permitting it to continue for such a long period? According to us, this plea has become infructuous because the impugned order was for only two weeks. You should have moved an objection there (high court),” the bench said.

The CBI arrested Chanda Kochhar and her husband on December 23, 2022, in link with the Videocon-ICICI Bank loan fraud case. The couple had moved the HC challenging their arrest, terming it as “illegal and arbitrary”. They had sought their release from jail on bail by way of an interim order.

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Published: 08 Dec 2023, 09:24 PM IST

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