Wednesday, April 14, 2021
Home News Reports ICICI Bank denies claims of Chanda Kochhar’s ‘indefinite leave’, official says ‘planned leave’

ICICI Bank denies claims of Chanda Kochhar’s ‘indefinite leave’, official says ‘planned leave’

Earlier today media reports claimed that ICICI Bank CEO Chanda Kochhar has been asked to go on a leave till a probe ordered against her by the bank board is completed. However, ICICI Bank officials have reportedly denied it and stated that her leave was planned. They also claimed that they are not looking for her successor as of now.

A probe was ordered on Kochhar after fresh claims of ‘quid pro quo’ dealings with the Videocon Group emerged when a whistleblower claimed she had violated rules on the code of conduct and ‘conflicts of interest’ norms. As per reports, the ICICI Bank has stated that the inquiry on Kochhar will be overseen by the bank’s audit committee and will be led by an independent person, most likely a retired Supreme Court Judge. The bank officials have also reportedly stated that the inquiry will begin next week and will be completed within two months. A law firm and a forensic auditor also are expected to be roped in.

Chanda Kochhar has been under the scanner since news emerged that the CBI has started a preliminary enquiry against her husband Deepak Kochhar has been involved in quid pro quo business dealings with Venugopal Dhoot, the promoter of Videocon Group. Though Chanda was not named as a suspect in the initial investigation, it was alleged that the Videocon Group was given a loan of Rs 3,250 crores from the ICICI Bank under Chanda Kochhar’s approval and six months later, Venugopal Dhoot had set up a joint venture with Deepak Kochhar. The Joint Venture, indirectly funded and financed by Dhoot, was named NuPower Renewables Pvt Ltd. After a series of transactions and questionable transfers of shares came to be owned by Deepak Kochhar, his father and Chanda’s brother’s wife.

It is notable that almost 86% of the 3250 crores loan remains unpaid and was declared NPA in 2017. Both Deepak Kochhar and Venugopal Dhoot have been banned from foreign travel by authorities by issuing a Look out Circular. Deepak Kochhar and the family members involved with financial dealings of NuPower Renewables have been questioned several times by the CBI.

  Support Us  

Whether NDTV or 'The Wire', they never have to worry about funds. In name of saving democracy, they get money from various sources. We need your support to fight them. Please contribute whatever you can afford

OpIndia Staffhttps://www.opindia.com
Staff reporter at OpIndia

Related Articles

Trending now

From reports of shortages to black-marketing, is Remdesivir really the ‘miracle drug’ to cure Covid?

In November 2020, World Health Organization (WHO) recommended against the use of Remdesivir in Covid-19 patients stating that there was no evidence that the drug can improve survival.

What would Dr. Ambedkar say about Hindu and Muslim societies today?

What do you think Dr. Ambedkar would say today about the relative performance of Hindu and Muslim society in the years since 1947? Can you be as frank and clear in stating your thoughts as he was?

Covid panic: Govt cancels Class 10 Board exams, students to be given marks as per Board criteria

Class 10 students will be promoted on the basis of an internal assessment. The government will review the situation on June 1 and decide on Class 12th Board exams thereafter.

COVID-19 outbreak: Maharashtra to get 100 MT oxygen from Ambani owned Reliance’s Jamnagar plant

Urban development minister Eknath Shinde said that Maharashtra will receive 100 MT of oxygen supply from Reliance's Jamnagar plant

Uttar Pradesh: Chief Minister Yogi Adityanath tests positive for coronavirus

He had earlier isolated himself after coming in contact with Covid-19 positive officers with the CMO. Recently, he had taken first dose of coronavirus vaccine.

Recently Popular

Pfizer wanted Brazil, Argentina to put military bases, Federal reserve as collateral: Why India kept Pfizer away and how the usual suspects are wrong

Pfizer has been accused of countries in Latin America of pledging their sovereign assets, military bases and financial reserves to protect itself from any adverse fallout of the vaccine

OpIndia Exclusive: Tata Communications suffers data leak, hackers claim to have sold access to company’s servers, over 50GB data still up for sale

As per two posts by hackers on a hackers' forum, they have gained access to Tata Communications servers and sold them.

What happened in Chhabra after Hindu man was stabbed by Muslim men: Call for peace, attack on a Hindu the next day and more

On April 12, the administration extended curfew for one more day at Chhabra, Baran district in Rajasthan after the communal riot

Attempts to draw false equivalence between the Kumbh Mela and Tablighi Jamaat congregation do not make sense: Here’s why

Attempts are being made to draw false equivalences between the Kumbh Mela and the Tablighi Jamaat congregation last year.

It’s a lung… it’s a burnt toast… it’s a duck pic… No! It’s a painting by Mamata Banerjee

Mamata Banerjee did not appear in any election rallies or gave any statement regarding the ongoing Assembly elections in West Bengal after Election Commission banned her from campaigning for 24 hours

India has to become a ‘Hindu Rashtra’, or it will be turned into an Islamic nation by 2030: Kerala MLA

"Can we let this nation (go) to any particular community? This needs to be discussed. Somebody has to speak up," PC George emphasised.
- Advertisement -

 

Connect with us

254,077FansLike
528,961FollowersFollow
24,200SubscribersSubscribe