Chanda Kochhar violated the ICICI Bank’s code of conduct

video-collage-finalICICI-Videocon Loan: Srikrishna Panel Finds Chanda Kochhar In Violation Of Bank’s Code Of Conduct – 

An investigation led by retired Supreme Court judge BN Srikrishna into alleged quid pro quo in ICICI Bank Ltd.’s loans to Videocon Group found that former Managing Director and Chief Executive Officer Chanda Kochhar violated the lender’s code of conduct. The findings prompted the bank to treat Kochhar’s resignation as a termination. The bank will revoke all her existing and future entitlements and future entitlements and claw back all bonuses paid to her from April 2009 until March 2018. Read more at:

Chanda Kochhar sacked by ICICI Bank over Videocon loan case, asked to return bonuses – An internal probe conducted by the ICICI Bank has faulted its former CEO and managing director Chanda Kochhar for violating the bank’s code of conduct. The probe, which was in connection to the ICICI-Videocon loan case, found that Chanda Kochhar failed to deal with conflict of interest by not making voluntary disclosures that she should have. Following the receipt of the probe report, the ICICI Bank also took a surprising step of retrospectively sacking Chanda Kochhar. Last year, following the allegations against her, Chanda Kochhar had voluntary stepped down from her posts. Read more at:

ICICI Bank-Videocon loan controversy: Chanda Kochhar may have to return bonuses, ESOPs around Rs 350 cr to lender – Chanda Kochhar, former Managing Director and Chief Executive Officer of ICICI Bank, may have to pay the private lender around Rs 350 crore. The bank will also retrieve all bonuses paid to her between April 2009 and March 2018, said media reports. The panel concluded that Kochhar’s lack of diligence with respect to annual disclosures as required by the bank in terms of its internal policies implies that the lender’s processes were rendered ineffective by her approach to such disclosures and avoidance of conflict. Read more at:

CBI had almost closed preliminary probe against former ICICI Bank chief Chanda Kochhar – Just weeks before the Central Bureau of Investigation (CBI) booked former ICICI Bank chief executive officer (CEO) Chanda Kochhar and her husband Deepak Kochhar in an alleged loan sanction case, the country’s premier investigating agency had already decided to close the preliminary enquiry (PE) against the duo and Videocon group boss Venugopal Dhoot for want of concrete proof, says an Economic Times report. According to the report, deputy inspector general Jasbir Singh and Superintendent of Police Sudhanshu Mishra, who were part of the investigation, had agreed on the recommendation made by investigating officer DJ Bajpei in December last year that there was limited evidence against the Kochhars. To recap, Chanda Kochhar had quit the bank in October last year, six months before her current tenure was to end. Read more at:

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