Videocon case: Chanda Kochhar violated ICICI code of conduct

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Videocon case: Chanda Kochhar violated ICICI code of conduct

Jan 30, 2019 20:16 IST

A probe panel headed by retired Supreme Court judge BN Srikrishna has faulted former CEO and MD of ICICI Bank Chanda Kochhar of quid pro quo in the Videocon loan case. The panel said Kochhar violated the Bank's 'Code of Conduct' on conflict of interest and failed to discharge her fiduciary duties. But ICICI Bank maintains its financial earnings between 2010-2018 were unaffected. In light of the report, ICICI Bank will now revoke all her existing and future entitlements, take back all her bonuses from April 2009. The Bank will also treat Kochhar's resignation as Termination for Cause