Chanda Kochhar and her husband Deepak Kochhar are expected to be released today in the ICICI Videocon loan case

ICICI CEO Chanda Kochhar and her husband, Deepak Kochhar, who was arrested in connection with an alleged multi-billion dollar money laundering scheme, are expected to be released from jail on Tuesday.

On Monday, the Chanda Kochhar’s were granted interim bail in the case

While granting interim relief to the former ICICI Bank CEO and MD and her husband, the Bombay High Court noted that it is incumbent upon the police not only to record reasons for arrest in writing but also in cases where the police choose not to arrest.

“It is also incumbent on courts to satisfy themselves that Sections 41 and 41-A are being followed, failing which the same will ensure the benefit of the person suspected of the offense, entitling the person to be released on bail,” the court added.

The order went on to say that there had to be a direct link or nexus between the material in front of the officer and the formation of his belief. As a result, there must be a logical connection between the two.

“We should note that reason to believe’ must be based on credible evidence, and no arrest decision can be recorded on fanciful or whimsical grounds,” the court stated.

“Given the facts as stated above, the reason given in the arrest memos to arrest the petitioners appears to us to be casual, mechanical, and perfunctory, clearly lacking in the application of mind.” The grounds for the petitioners’ arrest mentioned in the arrest memos are clearly in violation of the mandatory provisions of Cr.P.C. Sections 41 and 41-A, as well as Section 60-A.”

Read Also – A mother and her son were killed when a Namma Metro under-construction pillar collapsed in Bengaluru

“We may note that we have not gone into the other submissions advanced by Mr. Desai, learned senior counsel appearing for the petitioner Chanda Kochhar, in particular, the submission that, as per the mandate, a lady officer was not present at the time of the petitioner-Chanda Kochhar’s arrest, in light of the finding recorded by us hereinabove,” the order continued. The petitioners are entitled to be released on bail pending the hearing and final disposition for the reasons stated above.