Bombay High Court Quashes Prosecution Against Chanda Kochhar in Octroi Evasion Case

The Bombay High Court has quashed criminal proceedings against former ICICI Bank MD and CEO Chanda Kochhar and other senior officials in a case alleging evasion of octroi on the import of gold coins into Pune.

The Court held that the prosecution failed to establish its role in the alleged offence. However, it refused to extend the relief to ICICI Bank itself, observing that the charges against the institution required examination at trial.

The case will, therefore, continue against the bank while proceedings against the individual officials stand closed.

[ICICI Bank & Ors v. State of Maharashtra & Anr.]