The Bombay High Court on Monday granted bail to former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar in a loan fraud case, noting their arrest was not done in conformity with provisions of law.

The couple was arrested by the Central Bureau of Investigation (CBI) on December 23, 2022 in connection with the Videocon-ICICI bank loan case. They are presently in judicial custody.