Mumbai: Former ICICI bank CEO Chanda Kochhar and her husband Deepak Kochhar walked out of jail free after getting bail from the Bombay High Court on Rs 3,000 crore loan fraud case.

The Kochhars claimed that their arrest was completely illegal.

The couple submitted an amount of Rs 1 lakh each at the time of bail and submitted their travel document-passports as sureties.

Deepak Kochhar was released from Arthur Road Jail and Chanda Kochhar got freed from Byculla Women’s Prison.
The decision came out just a day after Bombay high court alleged that the duo's arrest was baseless and illegal.

Arrests by the concerned authorities should not be based on fancy or playful grounds, added the court. The couple was apprehended by Central Bureau of Investigation (CBI) on December 23 last year.

The Kochhars claimed that, the provisions of Prevention of Corruption Act demands for a sanction to be made by pertinent authorities.

The court stated that, the arrest was not made under the provisions of law, hence the release has been announced.
CBI, however, denied the allegations.

The duo partially cooperated with the questions asked and revolved around evasive replies, added CBI.

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