ICICI Bank-Videocon case: Another high profile case going nowhere?
In January 2019 the CBI registered FIR against former ICICI Bank CEO Chanda Kochhar, her husband Deepak Kochhar and Videocon group MD Venugopal Dhoot. According to the FIR, there were irregularities in loans sanctioned by ICICI Bank to the Videocon group in 2012. This matter came to light due to a whistleblower who first raised questions in a blog in 2016.
Chanda Kochhar had sought early retirement from the bank after the matter had surfaced and in October 2018, the bank’s board accepted her request. The board also said certain benefits to her will be subject to the outcome of enquiry panel headed by Justice BN Srikrishna. Soon after the CBI FIR in January 2019, a panel headed by Justice BN Srikrishna found that Chanda Kochhar had indeed violated the bank’s code of conduct in the Videocon case.
