Chanda Kochhar gets majority votes to be reappointed on board of ICICI Securities

Shareholders of ICICI Securities have voted in favour of reappointing Chanda Kochhar as the company's Chairperson, as per a regulatory filing.

ICICI Securities' promoter (ICICI Bank) and promoter group have voted 100 per cent in favour of Kochhar's reappointment.

The ICICI Bank MD and CEO is on an absence of leave from office, pending the probe against her on the allegations of favouring family members in lieu of providing loans to a corporate house.

The shareholders of ICICI Securities at its 23rd annual general meeting held yesterday passed the resolution to re-appoint Kochhar as the chairperson of the ICICI Bank subsidiary.

She received nearly 97.7 per cent of the votes in favour of her reappointment, while nearly 2.32 per cent votes were cast against her, ICICI Securities said in a late night filing on Thursday.

"In the absence of Chanda Kochhar, Chairperson, Vinod Kumar Dhall was designated by the board of directors of the company as the chairman of the meeting," it said in the filing.

She expressed her inability to attend the meeting, ICICI Securities said.

Earlier this month, Kochhar had offered herself to be reappointed on the board of ICICI Securities. She is the chairperson of the bank's broking arm.

She is facing allegations of impropriety in ICICI Bank by extending loans to some companies and enjoying reciprocal benefits.

It has been alleged that her family members, including her husband Deepak Kochhar, got financial favours from the borrowers against the loans sanctioned by the bank