NEW DELHI: Private sector lender ICICI Bank on Friday morning clarified that Chief Executive Officer (CEO) and Managing Director (MD) Chanda Kochhar has not been asked to move on an 'indefinite go away' , as was reported earlier by some media outlets.
"The ICICI Bank Board denies having asked Ms. Chanda Kochhar to go on leave. She is on her annual leave which was planned in advance. Further, the Board denies that it has appointed any search committee to find her successor," the financial institution stated in a commentary issued to the bourses.
On Thursday, reports had emerged that Kochhar were asked to move on go away after 'a majority of the seven independent administrators on the financial institution's board', advised so.
Incidentally, ICICI Bank on Wednesday had determined to institute an independent enquiry into the allegations levelled by anonymous whistleblower against Kochhar.
The allegations are related to 'war of pastime' over a time and 'quid pro quo' in process Kochhar's paintings in coping with sure borrowers. Earlier marketplace regulator, Sebi issued a show-cause realize to the financial institution and its CEO for alleged violation of disclosure necessities beneath securities law within the case involving Videocon Group and NuPower Renewables, a firm run by her husband Deepak Kochhar.
On Friday, the stocks of ICICI Bank were up 1.42 in line with cent at Rs 289.65 on the BSE at 10.40 am. The broader marketplace was trading flat.
"The ICICI Bank Board denies having asked Ms. Chanda Kochhar to go on leave. She is on her annual leave which was planned in advance. Further, the Board denies that it has appointed any search committee to find her successor," the financial institution stated in a commentary issued to the bourses.
On Thursday, reports had emerged that Kochhar were asked to move on go away after 'a majority of the seven independent administrators on the financial institution's board', advised so.
Incidentally, ICICI Bank on Wednesday had determined to institute an independent enquiry into the allegations levelled by anonymous whistleblower against Kochhar.
The allegations are related to 'war of pastime' over a time and 'quid pro quo' in process Kochhar's paintings in coping with sure borrowers. Earlier marketplace regulator, Sebi issued a show-cause realize to the financial institution and its CEO for alleged violation of disclosure necessities beneath securities law within the case involving Videocon Group and NuPower Renewables, a firm run by her husband Deepak Kochhar.
On Friday, the stocks of ICICI Bank were up 1.42 in line with cent at Rs 289.65 on the BSE at 10.40 am. The broader marketplace was trading flat.
CEO Chanda Kochhar not asked to go on 'indefinite leave', clarifies ICICI Bank
![CEO Chanda Kochhar not asked to go on 'indefinite leave', clarifies ICICI Bank]()
Reviewed by Kailash
on
June 01, 2018
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