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Law Firm Withdraws 2016 Report That Gave Clean Chit to Chanda Kochhar

Wednesday, October 24, 2018, 12:07 PM

ICICI Bank has said that a law firm it engaged withdrew its 2016 report that gave former ICICI Bank CEO Chanda Kochhar a clean chit with regard to nepotism allegations. The private sector lender added that following additional whistleblower allegations and further information made available to the bank, the law firm said its earlier report would no longer be valid.
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Top law firm withdrew its clean chit to Chanda Kochhar: ICICI Bank

Wednesday, October 24, 2018, 11:21 AM

One of India's leading law firms, Cyril Amarchand-Mangaldas, recently withdrew its investigative report that had given Chanda-Kochhar a clean chit, according to a person close to the development speaking on the condition of anonymity. The law firm was engaged by ICICI Bank Ltd.'s board to investigate allegations of nepotism made by a whistleblower pertaining to loans extended by the bank to the Videocon group.
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Chanda Kochhar Quits As ICICI Bank CEO, Sandeep Bakhshi Replaces Her

Thursday, October 4, 2018, 2:55 PM

Chanda Kochhar, being investigated for alleged conflict of interest, has resigned as ICICI Bank CEO and will be replaced by Sandeep Bakhshi, the lender confirmed on Thursday. Ms Kochhar, 56, had requested early retirement, the bank said. She will relinquish office from the board of directors with immediate effect, the private sector bank said in a regulatory filing.

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