ICICI Bank sacks ex CEO Chanda Kochhar as per code of conduct, after Justice Srikrishna report indicts her

ICICI Bank has sacked ex-CEO Chanda Kochhar after a decision by the board of directors. A report by the Justice Srikrishna had earlier indicted her in corporate favoritism to Videocon.

As reported by the NDTV, “Chanda Kochhar quit as CEO and Managing Director of ICICI Bank in October over the case involving a loan of Rs. 3,250 crore in 2012 to the Videocon Group, a legacy firm which has become a non-performing asset for the ICICI Bank. The case exploded last year when a whistleblower alleged that Ms Kochhar's husband Deepak Kochhar and her family members benefited from the dealings.”

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