Business Companies 01 Jun 2018 Chanda Kochhar on an ...

Chanda Kochhar on annual leave, clarifies ICICI Bank, denies media report

DECCAN CHRONICLE
Published Jun 1, 2018, 10:55 am IST
Updated Jun 1, 2018, 11:57 am IST
The ICICI Bankd board also denies it has appointed any search committee to find her successor.
ICICI Bank MD and CEO Chanda Kochhar.
 ICICI Bank MD and CEO Chanda Kochhar.

Mumbai: ICICI Bank Ltd on Friday denied media report stating that CEO and Managing Director Chanda Kochhar has been asked to go on leave until an independent enquiry on alleged cases of impropriety is concluded.

In a statement issued by the bank said, "The ICICI Bank Board denies having asked Chanda Kochhar to go on leave. She is on her annual leave which was planned in advance."

 

The statement also said the board “denies it has appointed any search committee to find her successor”.

A report in the business daily, The Mint said that Chanda Kochhar has been asked to be on leave until the probe is over.

The CBI has launched a preliminary investigation into Rs 3,250 crore loan ICICI Bank had extended to Videocon in 2012 and the possible role of Kochhar's husband -- Deepak Kochhar.

Stock markets regulator - Securities and Exchange Board of India (SEBI) has served a notice on ICICI Bank CEO and MD Chanda Kochhar on dealings of the bank with Videocon Group and Nupower, an entity in which her husband Deepak Kochhar has economic interests.

 

The ICICI Bank in a statement said that appropriate responses will be submitted to SEBI by them in accordance with regulation.

(With inputs from agencies)

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