Mumbai: The Bombay High Court on Friday heard prosecution and defence arguments on the applications of former ICICI Bank CEO and MD Chanda Kochhar and her businessman-husband Deepak Kochhar, challenging their arrest by the Central Bureau of Investigation (CBI) in an alleged loan fraud case, and reserved its verdict which will be delivered on Monday.
The Kochhars, along with Videocon group founder Venugopal Dhoot, were arrested by the CBI late last month for their alleged roles in the case and the trio is currently in jail under judicial custody.
The Kochhar couple has termed their arrest as “illegal” on the ground that no sanction was obtained prior to the CBI action as required under provisions of the Prevention of Corruption Act (PCA).
Arguing on behalf of Chanda Kochhar, senior advocate Amit Desai, along with lawyer Kushal Mor, submitted that she was arrested after a “perfunctory interrogation.”
He argued that Chanda Kochhar didn’t know what was happening with her husband’s business. Desai further said a male officer arrested the former ICICI Bank chief and the relevant memo doesn’t show the presence of a lady officer as required under the law.
“The law also mandates that even the personal search (of a woman accused) should be by a female officer There is an obligation on the state for protecting women,” advocate Amit Desai argued.