Letter to BS: Was not aware of Videocon's deals with husband, says Kochhar

Apropos “Was not aware of Videocon’s deal with husband” (September 6); it is very disturbing to note that Chanda Kochhar has completely denied any knowledge of her husband’s dealings with Videocon and has conveniently refused to accept the accusation of conflict of interest in her involvement in ICICI sanctioning huge loans to Videocon. 

If a wife, who is the MD/CEO of one of the most influential private banks, claims that she was not aware of her husband's dealings in thousands of crores then either she is too naive to be the MD/CEO of such a big bank or its a fearful failure of market intelligence of ICICI. In any case, “something is rotten in the state of Denmark”! If no one in ICICI was aware about its client’s — Videocon’s — dealings, it creates a big question mark about ICICI Bank's capability (in sanctioning/disbursing big loans) and its credibility. From whichever angle you look at it, ICICI and its CEO/MD are shown in very poor light. If the Securities and Exchange Board of India (Sebi) accepts this cock and bull story, then one can be assured that “Sebi ke darbar mein der bhi hain aur andher bhi” (there is both delay and darkness under Sebi’s dispensation).

M M Tambe Mumbai

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