The Bombay High Court on Tuesday has granted the Central Bureau of Investigation (CBI) time until 6 January to document its respond to the plea of former ICICI Bank Chief Executive Officer and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, tough their arrest in an alleged mortgage fraud case.
The Kochhar couple has moved the HC in search of to quash their remand order, calling their arrest “illegal”. Seeking their launch from prison, they’ve additionally submitted that their son is getting married later this month and invites have already been despatched out to guests.
A unique CBI courtroom docket had despatched former ICICI Bank CEO and MD Chanda Kochhar, her husband Deepak Kochhar and Videocon organization founder Venugopal Dhoot to judicial custody until January 10 in reference to a mortgage fraud case. The 3 had been produced earlier than unique choose S H Gwalani on the stop in their in advance remand on Thursday. The CBI, represented through unique public prosecutor A Limosin, did now no longer are trying to find their custody further. The courtroom docket then despatched all of the 3 accused to judicial custody until January 10, 2023.
The CBI arrested Chanda and Deepak Kochhar withinside the case on December 23 following which the couple changed into despatched to prison beneathneath judicial custody. On Tuesday, while the HC took up their plea towards arrest, the crucial organisation sought time to document its reaction.
Deepak Kochhar’s legal professional Vikram Chaudhary submitted that the marriage of his client’s son is scheduled for later this month and invitation playing cards had been distributed. The businessman changed into referred to as to report his announcement withinside the case, however changed into as a substitute arrested, stated the legal professional.
Chanda Kochhar’s legal professional instructed the courtroom docket that the prosecution in a case towards her beneathneath the Prevention of Money Laundering Act (PMLA) had made a announcement that her arrest changed into now no longer required.
But the CBI arrested the previous ICICI Bank CEO bringing up non-cooperation in research of the mortgage fraud case, stated her legal professional.
The Kochhars had been named accused in a separate case filed beneathneath the PMLA towards them through the Enforcement Directorate (ED). The attorneys sought the couple’s meantime launch due to their son’s upcoming wedding.
However, the excessive courtroom docket stated the CBI desires to accept time to document its reaction to the plea, and adjourned the problem until Friday.
The CBI has named the Kochhars, Videocon Group founder Venugopal Dhoot, together with businesses Nupower Renewables (NRL), controlled through Deepak Kochhar, Supreme Energy Pvt Ltd (SEPL), Videocon International Electronics Ltd. (VIEL) and Videocon Industries Ltd, in its 2019 FIR registered beneathneath Indian Penal Code (IPC) sections associated with crook conspiracy and the Prevention of Corruption Act.
The probe organisation has alleged that ICICI Bank in 2009 had sanctioned credit score of ₹3,250 crore to Videocon Group businesses in violation of the Banking Regulation Act, RBI guidelines, and the non-public lender’s credit score policy.
The day after the mortgage changed into disbursed, Dhoot transferred ₹sixty four crore to NRL from VIEL thru SEPL, the CBI has alleged. At the time, Chanda Kochhar headed the main non-public quarter bank. The probe organisation has additionally arrested Dhoot withinside the case and he, too, is in judicial custody.