Chanda Kochhar

ICICI Bank-Videocon case: SC notice to Chanda Kochhar, husband on CBI plea

The Central Bureau of Investigation has alleged that after the loan was sanctioned, Videocon Group promoter VN Dhoot invested Rs 64 cr into Nupower Renewables, a company managed by Chanda Kochhar

Arrest of Chanda Kochhar, her husband amounted to abuse of power by CBI: HC

The arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in a loan fraud case was "without application of mind and due regard to the law", amounting to an "abuse of power", the Bombay High Court has said. A division bench of Justices Anuja Prabhudessai and N R Borkar had on February 6 held the Kochhars' arrest as illegal and confirmed a January 2023 interim order passed by another bench granting them bail. In the order made available on Monday, the court said the CBI has been unable to demonstrate the existence of circumstances or supportive material based on which the decision to arrest was taken. The absence of such circumstances renders the arrest illegal, it said. "Such routine arrest without application of mind and due regard to the law amounts to an abuse of power," the court said. The court also refused to accept the probe agency's contention that the arre

Arrest of Chanda Kochhar, husband in ICICI-Videocon loan case illegal: HC

The Bombay High Court on Tuesday held as "illegal" the arrest of ICICI Bank's former Managing Director and Chief Executive Officer (CEO) Chanda Kochhar and her businessman-husband Deepak Kochhar by the Central Bureau of Investigation (CBI) in an alleged loan fraud case. A division bench of Justices Anuja Prabhudessai and N R Borkar confirmed a January 2023 interim order passed by another bench granting the duo bail soon after their arrest in the case. The couple was arrested by the CBI on December 23, 2022, in connection with the Videocon-ICICI Bank loan case. They immediately moved the HC challenging their arrest and sought it to be declared as illegal. By way of an interim order, they also sought to be released on bail. On January 9, 2023, the HC, in its interim order, granted bail to the duo after coming down heavily on the CBI for making the arrest in a "casual and mechanical" manner and without application of mind. On Tuesday, the bench led by Justice Prabhudessai allowed the

SC defers hearing on CBI plea against bail to Chanda Kochhar in fraud case

The Supreme Court on Tuesday deferred until January 3, 2024 the hearing on CBI's plea challenging the Bombay High Court order granting bail to former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in a loan fraud case. A bench comprising Justices Bela M Trivedi and Satish Chandra Sharma took note of the submissions of senior advocate Amit Desai, appearing for the Kochhars, that he would like to appear physically before it to argue the case. Desai, who was appearing virtually from Mumbai, said there were some connectivity issues, and sought an adjournment. Additional Solicitor General S V Raju, who represented the CBI, opposed Desai's plea for adjournment, saying the hearing be held on Wednesday and not adjourned for a long period. The bench then fixed it for hearing on January 3 next year. The bench had on October 16 sought a response from the Kochhars on the CBI's petition challenging the interim bail granted to them in the case by the Bombay High Court. ASG

Supreme Court dismisses Chanda Kochhar's plea for retirement benefits

The bench, however, said 'no interference' is required and dismissed the appeal

SC dismisses Chanda Kochhar's plea for retirement benefits from ICICI bank

The Supreme Court on Friday refused to entertain former ICICI bank managing director and CEO Chanda Kochhar's plea seeking retirement benefits from the bank. A bench of Justices Sanjiv Khanna and SVN Bhatti said, "Not a case for interference. We are not inclined to interfere with the high court order. The special leave petition is dismissed." At the outset, senior advocate Harish Salve, appearing for Kochhar said the high court had dismissed the petition without any discussion or finding. The bench said it has seen the facts involved and the case does not warrant any interference. Kochhar has challenged the Bombay High Court's May 3 order, which dismissed her petition saying grant of any interim relief to her would cause irreparable damage and prejudice to the bank. Meanwhile, another top court bench headed by Justice Bela M Trivedi adjourned the hearing on a separate plea filed by CBI challenging grant of interim bail to Kochhar. The plea of the probe agency will now be heard on

ICICI-Videocon scam: SC issues notice on plea challenging Kochhar's bail

The CBI arrested the Kochhar couple on December 23, 2022, in connection with the Videocon-ICICI Bank loan fraud case

SC seeks reply of Chanda Kochhar, husband on CBI's plea in loan fraud case

The Supreme Court on Monday sought response of former ICICI Bank CEO-cum-MD Chanda Kochhar and her businessman husband Deepak Kochhar on a plea of the CBI challenging the interim bail granted to them by the Bombay High Court in a loan fraud case. A bench of Justices Aniruddha Bose and Bela M Trivedi issued notice on the plea of the CBI and sought the response of the couple in three weeks. Additional Solicitor General SV Raju, appearing for the CBI, said the high court proceeded on a wrong presumption that offence is punishable with maximum of seven years imprisonment without considering section 409 of IPC (criminal breach of trust by public servant) which entails sentence from 10 years to life imprisonment. The bench asked Raju how section 409 of the IPC come into play when it was a private bank. Raju replied that the bank may be private but it involves public money. The bench said it is issuing notice and seeking their reply in three weeks. On January 9, the high court pulled up

Loan fraud case: Why didn't CBI object to bail to Kochhars, asks SC

Justice Trivedi asked Raju about the next date of hearing in the high court. The lawyer told the judge no fresh date has been announced yet

Dhoot told Kochhar's husband she would 'land up sharing room with Indrani'

Videocon Group founder Venugopal Dhoot had during an argument over a flat told Deepak Kochhar, the husband of ICICI bank's former CEO and MD Chanda Kochhar, that she would "land up sharing room with Indrani Mukerjea," as per the chargesheet filed by the CBI in an alleged loan irregularities case. Deepak Kochhar became very angry and asked Dhoot to listen to his advice, otherwise he would "ruin him", according to the chargesheet. The claim, citing the statement of a witness, is part of the Central Bureau of Investigation's (CBI) chargesheet filed in the case against Chanda Kochhar, Deepak Kochhar and Dhoot. The Kochhars and Dhoot, arrested in December last year, are currently out on bail. Indrani Mukerjea, the prime accused in the case of murder of her daughter Sheena Bora, was lodged in the Byculla jail here for more than six years following arrest in August 2015. She was granted bail by the Supreme Court in May 2022. The chargesheet in the Kochhar case, running into more than 10,

ICICI Bank says loans to Videocon did not cause any 'wrongful loss'

There was no issue of wrongful loss and violation or contravention of rules and policy, the bank said

ICICI Bank gave sanction to prosecute Kochhar in loan fraud case: CBI

The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank's board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The probe agency, represented by special public prosecutor A Limosin, told the court that the board of ICICI Bank in a resolution passed on April 22 this year gave its sanction to the prosecution (against Kochhar), accepting that there seemed to be quid pro-quo. Chanda Kochhar and her husband Deepak Kochhar were arrested by the central probe agency in December last year in connection with the case. The Bombay High Court later granted interim bail to the couple (Kochhars) and came down heavily on the CBI for making the arrest in a "casual and mechanical" manner and without application of mind. The agency had also arrested Videocon group founder Venugopal Dhoot. .

Bombay High Court rejects Chanda Kochhar plea for retirement benefits

Private lender's sacked chief has filed a lawsuit asking her former employer to fulfill contractual responsibilities

ICICI-Videocon fraud case: CBI files charge sheet against Kochhars, Dhoot

Of the six loans, Chanda Kochhar was one of the committee members in two loans i.e. RTL of Rs 300 crore to VIEL and RTL of Rs 750 crore to VIL

Videocon Group founder Venugopal Dhoot gets interim bail from Bombay HC

Dhoot approached the high court after co-accused Chanda Kochhar, former managing director and chief executive officer of the ICICI bank, and her husband were granted bail

Videocon-ICICI loan case: SAT asks Sebi to provide documents to Kochhar

The Securities Appellate Tribunal (SAT) has asked capital markets regulator Sebi to provide certain documents pertaining to loans sanctioned by ICICI Bank to entities including Videocon Group to the private lender's former chief Chanda Kochhar. Directing Sebi to provide such documents, the tribunal said that denial of the documents sought for by the respondent (Sebi) was in "gross violation of the principles of natural justice". The matter pertains to an amended show cause notice issued by the regulator to Kochhar on the basis of an analysis of a report by retired Justice B N Srikrishna. The Srikrishna committee, which was tasked to probe the allegations of quid pro quo transactions in ICICI Bank, submitted its report to the lender in January 2019. The committee, in its report, observed that Kochhar violated bank policies and other rules and regulations. The board of the bank based on the report had decided to treat her resignation as 'termination for cause' under the bank's inter

Loan fraud case: Chanda Kochhar, her husband released from jail in Mumbai

Chanda Kochhar walked out of the Byculla women's prison in Mumbai, while her husband was released from the Arthur Road jail

Arrest not in accordance with law: Bombay HC grants bail to Chanda Kochhar

Kocchar couple had termed their arrest 'illegal' on the ground that no sanction was obtained before their arrest by CBI

Dhoot's plea, Kochhar's demand for home food rejected in ICICI fraud case

A special court here on Thursday rejected Videocon founder Venugopal Dhoot's plea which claimed that his arrest by the Central Bureau of Investigation in the alleged loan fraud involving former ICICI Bank CEO and MD Chanda Kochhar was illegal. The CBI court also rejected applications of Chanda Kochhar and her husband Deepak Kochhar for home food, beds, mattresses and chairs. The court directed jail authorities to provide them diet food in consultation with the medical officer. The Kochhars were arrested by the CBI on December 23, while Dhoot was arrested three days later. All three are currently in judicial custody. Dhoot had challenged his arrest claiming it was illegal and sought immediate release from the case. His lawyer S S Ladda, along with advocate Viral Babar, argued that Dhoot was arrested only because the investigating officer came under pressure after the Kochhar couple's arrest. During the first remand hearing of the Kochhars their lawyer questioned why Dhoot had not

Kochhargate: A litmus test for CBI

The country's premier investigative agency's record in probing complex financial misdeeds is not exactly immaculate