Bombay High Court deemed the arrest of ex-ICICI Bank CEO Chanda Kochhar and her husband unlawful, amidst allegations of irregularities in Videocon loans raising questions about procedural fairness and legal scrutiny.
Earlier, the Bombay High Court had denied her plea for reinstatement of her Employee Stock Options.
Bombay High Court observed that it is not appropriate for a Court to hold a mini trial at the stage of grant of temporary injunction.
Merely by mentioning in the arrest memo that the petitioner has been inconsistent in his statements before the Investigating Officer and has kept on changing his versions and as such, has not co-operated with the investigation in disclosing full and true facts, is not sufficient and the same cannot be a ground of arrest as it is unacceptable and contrary to the mandate of Section 41(1)(b)(i)&(ii) from (a) to (e) of the CrPC.
The reason given in the arrest memos to arrest the petitioners, having regard to the facts, appears to be casual, mechanical and perfunctory, clearly without application of mind. The grounds for arrest of the petitioners mentioned in the arrest memos clearly breach the mandatory provisions of Sections 41 and 41-A and 60-A of the Criminal Procedure Code.
Sessions Court, Greater Bombay: Abhijeet A. Nandgaonkar, Additional Sessions Judge, issued summons, being of the prima facie opinion that Chanda Kochhar, Former
Supreme Court: The 3-judge bench of Sanjay Kishan Kaul, DInesh Maheshwari and Hrishikesh Roy, JJ has refused to interfere with the termination
As reported by media, the board of ICICI Bank had appointed Retired Supreme Court Judge, Justice Srikrishna to investigate in regard to