Loan fraud case: Chanda Kochhar, her husband Deepak Kochhar released from jail
Mumbai (PTI): Former ICICI Bank CEO and MD Chanda Kochhar and her husband Deepak Kochhar were released from jail on Tuesday morning, a day after the Bombay High Court granted them interim bail in a loan fraud case, a police official said.
Chanda Kochhar walked out of the Byculla women's prison in Mumbai, while her husband was released from the Arthur Road jail, the official said.
The CBI arrested Kochhars on December 23, 2022 in connection with the Videocon-ICICI Bank loan case.
The couple had filed petitions in the Bombay High Court challenging their arrest, terming it as illegal and arbitrary.
The HC on Monday granted them interim bail and came down heavily on the Central Bureau of Investigation (CBI) for making the arrest in a "casual and mechanical" manner and without application of mind.
The CBI named the Kochhars, Videocon group founder Venugopal Dhoot along with Nupower Renewables (NRL) - managed by Deepak Kochhar - Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Ltd as accused in the FIR (first information report) linked to the case registered in 2019 under Indian Penal Code sections pertaining to criminal conspiracy and provisions of the Prevention of Corruption Act.
The central agency has alleged that ICICI Bank, headed by Chanda Kochhar from 2009 to 2018, sanctioned credit facilities to the tune of Rs 3,250 crore to these companies in violation of norms.
It further claimed that as a part of quid pro quo (Latin expression literally meaning "something for something"), Dhoot made an investment of Rs 64 crore in Nupower Renewables through Supreme Energy Pvt Ltd (SEPL), and transferred SEPL to Pinnacle Energy Trust managed by Deepak Kochhar through a circuitous route between 2010 and 2012.
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Parliament passes Waqf (Amendment) Bill, 2025
New Delhi (PTI): Parliament early Friday passed the contentious Waqf (Amendment) Bill, 2025, after it was approved by the Rajya Sabha.
The Lok Sabha had on Thursday approved the Bill after over a 12-hour debate.
In Rajya Sabha, the Bill got 128 votes in its favour and 95 against after all the amendments moved by the opposition were rejected.
In the lower house, the bill was supported by 288 MPs while 232 voted against it.
Participating in a debate in the Rajya Sabha, Minority Affairs Minister Kiren Rijiju said the Bill was brought with a number of amendments based on suggestions given by various stakeholders.
"The Waqf Board is a statutory body. All government bodies should be secular," the minister said, explaining the inclusion of non-Muslims on the board.
He, however, said the number of non-Muslims has been restricted to only four out of 22.
Rijiju also alleged that the Congress and other opposition parties, and not the BJP, were trying to scare Muslims with the Waqf Bill.
"You (opposition) are pushing Muslims out of the mainstream," he added.
He said for 60 years, the Congress and others ruled the country, but did not do much for Muslims and the community continues to live in poverty.
"Muslims are poor, who is responsible? You (Congress) are. Modi is now leading the government to uplift them," the minister said.
According to the Waqf (Amendment) Bill, Waqf tribunals will be strengthened, a structured selection process will be maintained, and a tenure will be fixed to ensure efficient dispute resolution.
As per the Bill, while Waqf institutions' mandatory contribution to Waqf boards is reduced from 7 per cent to 5 per cent, Waqf institutions earning over Rs 1 lakh will undergo audits by state-sponsored auditors.
A centralised portal will automate Waqf property management, improving efficiency and transparency.
The Bill proposes that practising Muslims (for at least five years) can dedicate their property to the Waqf, restoring pre-2013 rules.
It stipulates that women must receive their inheritance before the Waqf declaration, with special provisions for widows, divorced women and orphans.
The Bill proposes that an officer above the rank of collector investigate government properties claimed as Waqf.
It also proposes that non-Muslim members be included in the central and state Waqf boards for inclusivity.
