ICICI Bank sacks Chanda Kochhar
Justice Srikrishna panel finds Kochhar, the former MD and CEO of ICICI Bank, violated the bank’s code of conduct. In a statement, Kochhar says, “truth will ultimately prevail”
Justice Srikrishna panel finds Kochhar, the former MD and CEO of ICICI Bank, violated the bank’s code of conduct. In a statement, Kochhar says, “truth will ultimately prevail”
ICICI Bank’s top management finally witnessed the inevitable churn with Chanda Kochhar exiting and Sandeep Bakhshi taking over the wheel. But is this the last we’ll ever see of Kochhar?
ICICI Bank’s stock rises nearly 5% despite quarterly losses as investors draw comfort from NPA clean-up steps.
After a board meeting on Monday, ICICI Bank released a statement saying Chanda Kochhar would continue as MD and CEO, but would remain on leave till the enquiry is completed.
Indefinite leave or planned leave aside, investors say Kochhar’s disassociation with ICICI Bank is in the bank’s best interest.
The bank’s board agreed to an independent probe into allegations of nepotism against its MD and CEO.
After market regulator Sebi served a notice to the MD and CEO of ICICI Bank, Chanda Kochhar, on dealings with Videocon, analysts say it’s time she stepped down.