Chanda spent 12 days eating Shira, Poha, Upma etc after coming out of Kochhar Jail. 2023

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Former ICICI Bank Managing Director and CEO Chanda Kochhar has been released from jail after 12 days. Along with her, her husband Deepak Kochhar has also been released on bail.

He was released on bail. Besides her husband, Deepak Kochhar was also released on bail.

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Image credit: PTI

Chanda Kochhar, the former MD and CEO of the bank arrested in the Videocon-ICCII Bank loan case, was released from jail on Tuesday. After 12 days of detention, the Bombay High Court granted him bail. Besides her husband, Deepak Kochhar was also released on bail.

The Bombay High Court held that the duo’s arrest was unlawful and they will be released. Where Chanda Kochhar was lodged in Byculla Women’s Jail in Mumbai. While her husband Deepak Kochhar is in Arthur Road Jail.

Both were released on cash bonds worth Rs 1 lakh by the Bombay High Court. The CBI arrested the Kochhar couple on December 23. The duo had filed a bail application with the Bombay High Court terming their arrest as illegal and arbitrary.

Chanda Kochhar gets these facilities

Chanda Kochhar was remanded in CBI custody before being sent to Byculla Jail. Regarding this issue, Chanda Kochhar’s lawyer asked the court to consider her age and health, and should give her some amenities. She was arranged to sleep on the cold floor in the prison. For this reason, the court allowed Chanda Kochhar to provide mattresses, chairs, beds and food in the house.

On December 29, Chanda Kochhar was sent to Byculla Jail for remand. Kochhar’s lawyer requested continued use of the facilities he is in prison, the court sought to decide after seeking a report from the prison authorities. However, the jail authorities opposed Chanda Kochhar’s plea and the court rejected Chanda Kochhar’s plea.

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This is how Chanda Kochhar spent her time in prison

After being given a trial number, Chanda Kochhar was detained in a common barracks in Byculla Jail. In some cases, prison authorities confine the trial to separate cells for security reasons, but Chanda Kochhar was kept in a common barracks.

Prison officials said in the application that Byculla Jail has a capacity of 262 people, but currently has 400 women prisoners. This means there is a lack of space for all prisoners. That is why Chanda Kochhar was kept in the general barracks.

Every prisoner in the general barracks is served morning and evening tea and breakfast. It contains Shira, Poha, Upma, Milk and Banana. Roti, vegetables and fruits are served for lunch and dinner. If prison medical staff wanted a different diet for a female prisoner, she would be provided with eggs, milk, steamed vegetables and unseasoned food.

What is the case for videocon loans?

Chanda Kochhar and Deepak Kochhar were arrested in the Videocon Bank-ICCII loan case. The matter first came to light in 2016. Arvind Gupta was then an investor in both ICICI Bank and Videocon Group. He expressed concern about irregularities in loan disbursement. He alleged that Chanda Kochhar sanctioned a loan of Rs 3,250 crore in the name of Videocon Group in 2012. In lieu of this loan, Videocon allegedly entered into an agreement with the company NuPower Renewables. This company is owned by Deepak Kochhar, Chanda Kochhar’s husband. So the problem ranges from fraud to misappropriation of funds.

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