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Little used in India, clawback provisions have seen greater traction abroad

ICICI Bank's own compensation policy suggests clawback in the event of 'gross negligence or integrity breach'

Chanda Kochhar
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Chanda Kochhar

Sachin P Mampatta
A number of companies from the United States of America to Denmark; have all seen attempts at clawback of executive compensation following scandal.

Insurer UnitedHealth Group’s chief executive officer and chairman William W. McGuire had to face clawback provisions which resulted in loss of compensation worth over $600 million in 2007. This followed an investigation into backdating of options.

A September 2018 report on Denmark’s largest bank Danske Bank talked of a clawback in compensation for chief executive officer Thomas Borgen. The bank is alleged to have helped launder around $235 billion.

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First Published: Jan 31 2019 | 6:57 PM IST

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