‘Abuse of power’: HC on CBI’s arrest of ex-ICICI Bank CEO Chanda Kochhar, husband
The Mumbai high court had confirmed the division bench's bail granted to the high-profile couple on February 6 in the Videocon-ICICI Bank loan case
The Mumbai high court had confirmed the division bench's bail granted to the high-profile couple on February 6 in the Videocon-ICICI Bank loan case
The high court said the arrests were "not in accordance with the law".
The CBI had filed a first information report (FIR) against Kochhar, her husband and Dhoot in 2019.
This comes two days after the investigative agency arrested ICICI Bank's former CEO and managing director Chanda Kochhar and her husband Deepak 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”
The market regulator had sent the showcause notices to Chanda Kochhar and ICICI Bank in May.
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.