Business, Latest News

ICICI sacks Chanda Kochhar

Mumbai: ICICI Bank Ltd said on Wednesday it would treat former chief executive Chanda Kochhar’s exit from the bank as a “termination for cause” after an enquiry report ruled that she had violated internal bank policies.

The enquiry report submitted by Justice (Retd) B N Srikrishna on Wednesday concluded that there was lack of diligence with respect to annual disclosures and violation of code of conduct, on her part.

Kochhar resigned in October after being mired in allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company, in the bank’s lending practices.

(With inputs from agencies)

Previous ArticleNext Article