The Central Bureau of Investigation (CBI) filed the plea against the invalidation of their arrest by the agency in connection with the alleged ₹3,250-crore Videocon loan fraud case
CBI has alleged that ICICI Bank sanctioned ₹3,250 crore to Videocon Group companies, violating banking regulations, RBI guidelines, & the bank’s credit policy.
Former CEO of ICICI Bank, Chanda Kochhar, has petitioned the Bombay High Court questioning her arrest in connection with alleged irregularities in loans provided to Videocon Group firms. The court has reserved its order on the matter. Kochhar and her husband were arrested in December 2022 but were later released on bail. Kochhar's counsel argued that the arrest was illegal, while the CBI countered by stating that documents could be presented to prove non-cooperation. The CBI had filed charges against Kochhar and others in July 2022.