- The Justice B.N. Srikrishna Committee that probed allegations against Chanda Kochhar (former MD, CEO of ICICI Bank) in the Videocon loan case, has found that she violated the bank’s code of conduct in dealing with conflict of interest and fiduciary duties in the case of loans to Videocon and had routed a part of the money to a company owned by her husband Deepak.
- ICICI Board of Directors have now decided to treat her ‘separation’ as a ‘termination for cause’ under the bank’s policies that will include revocation of all her existing and future entitlements such as unpaid amounts, bonuses, increments and stock options.
Point to remember:
- Head of the committee on Chanda Kochhar