The Kochhars, arrested in connection with the ICICI Bank-Videocon loan case, are out on bail. Former ICICI CEO Chanda Kochhar was on Tuesday released from Byculla Prison while her husband Deepak Kochhar was released from Arthur Road Jail.

While granting them bail on Monday, the Bombay High Court observed that their ‘arrest was not in accordance with the law’.

The Bombay High Court observed that it is incumbent upon the police not only to record reasons for arrest in writing but, even in cases, where the police choose not to arrest, news agency ANI reported.

“It is also incumbent on courts to satisfy themselves that there is due compliance of Sections 41 and 41-A, failing which, the same will ensure the benefit of the person suspected of the offence, entitling the person to be released on bail,” the court observed further.

The order further read that there must be a direct nexus or live link between the material before the officer and the formation of his belief. Thus, there must be a rational connection between the two.

“We may note, that ‘reason to believe’ must be based on credible material and no decision to arrest can be recorded on fancy or whimsical grounds,” the court noted.

“The reason given in the arrest memos to arrest the petitioners, having regard to the facts as stated aforesaid, appears to us, to be casual, mechanical and perfunctory, clearly without application of mind. The ground for the arrest of the petitioners mentioned in the arrest memos is in clear breach of the mandatory provisions of Sections 41 and 41-A and 60-A of Cr.P.C.,” read the order.

The order further stated, “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 view of the finding recorded by us hereinabove. For the reasons set out hereinabove, the petitioners are entitled to be released on bail, pending the hearing and final disposal of the aforesaid petitions.”

The court observed that the arrest of the Kochhar couple was “not in accordance with the law” and, hence, it was allowing them to be released from judicial custody on a cash bail of Rs 1 lakh each, ANI reported.

The Central Bureau of Investigation, which arrested the couple on December 23, last year in the Videocon-ICICI loan scam case, had opposed their release.