Internal probe finds Kochhar's conflict of interest in 6 corporate accounts

Says severe breach of disclosure norms in restructuring of debt

The Srikrishna committee has found severe breach of corporate governance and disclosure norms by Chanda Kochhar, ICICI Bank’s former chief executive officer and managing director, in the restructuring of debt of at least six corporate accounts other than that of Videocon Industries, said a person privy to the panel’s findings in the Rs 3,250-crore ICICI-Videocon loan case.  

According to him, the panel has pointed out favouritism and conflict of interest with regard to credit disbursement to these firms. These firms underwent refinancing and restructuring, which was approved of by the bank’s credit committees. “Some loan accounts/borrowers clearly showed that she