Putting an end to days of speculation, the board of directors of ICICI Bank has asked Chanda Kochhar to stay put on her leave till the internal enquiry into allegations of conflict of interest into loans to Videocon group is completed though she continues to remain the bank’s MD & CEO.
The announcement of Kochhar being asked to go on a leave comes amid speculations of her stepping down and eighty-three days after ICICI Bank reposed “full faith and confidence” in her stating there was “no question of any quid pro quo/nepotism/conflict of interest”.
The Central Bureau of Investigation has already registered a preliminary enquiry into allegations that the ICICI Bank chief’s husband Deepak Kochhar‘s company NuPower Renewables received an investment from a Videocon group company as a quid pro quo for a loan from the bank.
Source: TOI