SC disposes of CBI's plea against interim bail to Chanda Kochhar

New Delhi, Feb 12:  The Supreme Court on Monday disposed of the special leave petition filed by the CBI against the January 2023 decision of the Bombay High Court granting interim bail to former ICICI Bank chief Chanda Kochhar in the alleged Videocon loan fraud case.

However, a Bench presided over by Justice Bela M Trivedi granted liberty to the central investigative agency to file a fresh appeal against the final decision of the High Court confirming the interim bail granted to the Kochhar couple.

Disposing of CBI’s appeal, the Bench, also comprising Justice Pankaj Mithal, clarified that it did not express anything on merits.

In a decision pronounced on February 6, a Division Bench of Justices Anuja Prabhudessai and Nitin R. Borkar of the Bombay High Court confirmed the interim bail order passed in January last year.

Against the interim decision of the High Court directing release of Kochhar and her husband Deepak Kochhar from judicial custody on the grounds that the arrest made was not in accordance with the law, the CBI had moved the Supreme Court with a special leave petition.

In an earlier hearing, the top court had raised eyebrows over continuation of Kochhars’ interim bail despite the order of the High Court directing interim release of the duo only for a term of two weeks.

“Is interim bail still continuing? Why are you not objecting?” it had asked the CBI.

Chanda Kochhar and her businessman husband Deepak Kochhar are alleged to have received kickbacks over her tenure in lieu of loans provided to the Videocon group.