latest news

Chanda Kochhar, 59, had quit as CEO and managing director of ICICI Bank in October 2018 over allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company. Saying that she violated the bank's code of conduct and internal policies, ICICI said a year later that it would treat Ms Kochhar's exit as "termination for cause".She has been accused of criminal conspiracy and cheating by the CBI for alleged irregularities in a loan of ₹ 3,250 crore in 2012 to the Videocon Group, which became a non-performing asset for the ICICI Bank.A whistleblower alleged that Ms Kochhar's husband Deepak Kochhar and her family members benefited from the dealings. d According to the charges in the case, former Videocon chairman Venugopal Dhoot allegedly invested crores of rupees in NuPower Renewables, a company founded by Mr Kochhar, months after the Videocon group was granted a loan by the bank.The loan was cleared by a committee of which Ms Kochh...