MUMBAI: The Bombay High Court on Monday granted bail to former ICICI bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in the loan fraud case. The couple had filed a petition alleging that it was an illegal arrest. In its interim orders, the division bench of Justice Revati Mohite Dere and Justice Prithvi Raj Chavan stated that the arrests were not in accordance
The CBI alleged that ICICI Bank sanctioned credit facilities to the tune of Rs 3,250 crore to the companies of Videocon Group in violation of the Banking Regulation Act, RBI guidelines and the credit policy of the bank.