There are allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.
Chanda Kochhar, who was arrested for a cash-for-loan scam on Friday, was once a powerful banker and instrumental in making ICICI Bank the country's biggest private sector lender. Kochhar, a regular feature on Forbes top global honchos lists, was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak Kochhar in connection with alleged cheating and irregularities in loans sanctioned by ICICI Bank to Videocon Group companies. Kochhars were called to the agency headquarters and arrested after a brief questioning session. Her chapter at ICICI Bank ended abruptly in 2018 when the board of directors approved a request from Kochhar to seek early retirement following allegation of corruption and quid pro-quo while extending loans to the now bankrupt Videocon Industries.
How Chanda Kochhar and her husband Deepak Kochhar find themselves in a huge controversy.
Justifying the transfer, the CBI pinned the blame on Mishra for keeping the preliminary enquiry pending without any reasons, they said.
The committee is considering 1,300 names for this year's awards from which it is likely to select 120.
West Bengal Chief Minister Mamata Banerjee's maiden visit to the financial capital Mumbai drew an enthusiastic response from India Inc with industry captains queuing up to attend the meeting called by her.
In the first of a two-part series, Tamal Bandyopadhyay explains why the ICICI Bank's board first rushed to deny all allegations against Kochhar and then took the extreme steps against her.
A delegation of about 100 chief executive officers from several national and multi-national companies will be visiting Kashmir to explore the business possibilities in the region as well as some leisure time.
'When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing price) of Rs 8.80 per share,' Deepak Kochhar said in a telephonic conversation with Business Standard.
Local traders are evaluating other options rather in FDI.
- I think it's a 'No' at this point of time, purely based on the whole negative aura that has been generated
India Inc says way forward is for Modi govt to work with other political parties to get bills passed.
'... not even a moral one, let alone a legal one.' 'Even if it is assumed that Deepak Kochhar tried to influence his wife into doing something dodgy for his 'social acquaintance', why would she do it?' 'By all accounts she has been granted share options in ICICI Bank of a very substantial amount which easily makes her a multi billion-pati.' 'She did not become CEO against some stiff competition by being stupid and concocting devious cock-and-bull renewable energy stories.' S Murlidharan, former managing director, BNP Paribas, unravels the Deepak Kochhar-Videocon controversy.
In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding
Several high profile companies are burdened with losses, mounting debt and have a huge load of operational costs.
The organisers of the much-anticipated Indian Premier League-style football league decided to defer the proposed tournament to September-November next year instead of early 2014.
CEOs are not happy with scorecard so far but are ready to invest more as they think one year is too short a time to revive the economy
Debt funds have exposure of nearly Rs 8,000 crore to Zee group papers. Aditya Birla MF, HDFC MF, Franklin Templeton MF, and ICICI Prudential MF have the highest exposure, reports Samie Modak.
The agency's poor track record in convictions is the only light at the end of a rather long tunnel for the couple, observes Shyamal Majumdar.
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The RBI has accepted the application withdrawal request, according to the statement.
'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
In addition, he will have to move swiftly to control any damage that may have been caused to the bank's image and investor confidence due to the loan controversy
Recent investigations into the telecom spectrum and coal scams have made bureaucrats very wary of taking decisions.
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