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SC Questions CBI About Chanda Kochhar’s 11 Months-and-Counting Interim Bail

The Supreme Court on Friday raised eyebrows over continuation of interim bail for 11 months granted to former ICICI Bank CEO and MD Chanda Kochhar in the alleged Videocon loan fraud case.

At the outset, an adjournment request was made on Kochhar’s behalf before a bench of Justices Bela M Trivedi and SC Sharma.

“Is interim bail still continuing? Why are you not objecting?” Justice Trivedi asked Additional Solicitor General (ASG) SV Raju, who appeared on behalf of central investigative agency.

At this, ASG Raju said that the CBI has been objecting and will file an application before Bombay High Court for vacating the interim order.

He added that the basis of grant of interim bail given by the High Court is itself erroneous and therefore, being challenged by CBI before the apex court.

Giving a last opportunity, the apex court said that it will take up the matter for hearing on December 11.

In a special leave petition before the apex court, the CBI has challenged the Bombay HC decision directing release of Kochhar and her husband Deepak Kochhar from judicial custody on the ground that the arrest made was not in accordance with the law.

Pertinently, the High Court order of January 9, granting interim bail for two weeks only, is still continuing.

Chanda Kochhar and her family is alleged to have received kickbacks over her tenure in lieu of loans provided to the Videocon group.

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