ICICI CEO Chanda Kochhar
ICICI CEO Chanda Kochhar

ICICI denies charges of sending Chanda Kochhar on leave

ANI | Updated: Jun 01, 2018 13:01 IST

New Delhi [India], Jun 1 (ANI): ICICI bank on Friday rebuffed reports regarding CEO Chanda Kochhar being sent on an indefinite break by the bank board, in the light of the independent enquiry over the alleged cases of impropriety regarding loans extended to the Videocon Group.
The bank clarified that Kochhar is on her annual leave which was planned in advance.
It also denied appointment of any search committee to find her successor.
As per a report published in a leading daily, Kochhar was asked to go on leave till the time the independent inquiry is concluded.
The decision to ask Kochhar was taken on the advice of a majority of the seven independent directors on the bank's board.
The Central Bureau of Investigation (CBI) is examining the sanctioning of a loan worth Rs.3, 250 crores by ICICI Bank to Videocon Group in 2012 on quid pro quo basis in which Chanda Kochhar and her family members are allegedly involved. (ANI)