Business Standard

Chanda Kochhar held guilty in ICICI probe report, will lose her perks

Lender has decided to treat her leave from the bank as a termination and claw back her bonuses from April 2009 to March 2018

Chanda Kochhar

Chanda Kochhar

Nikhat Hetavkar Mumbai
A probe panel headed by former Supreme Court Judge B N Srikrishna has found that former chief executive and managing director of ICICI Bank Chanda Kochhar violated the bank’s code of conduct in the Videocon loan case. Based on the findings of the report submitted on Wednesday, ICICI Bank has decided to take back all bonuses given to her between April 2009 and March 2018, and also revoke all benefits and stock options.

The bank said Kochhar “ineffectively” dealt with “conflict of interest and due disclosure or recusal requirements,” while deciding on loans given to the Videocon Group, where her relatives

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First Published: Jan 30 2019 | 6:35 PM IST

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