The agency is also preparing to analyse the details of assets of the Kochhars and others so that they can be provisionally attached under the Prevention of Money Laundering Act
The Bombay high court on Thursday dismissed a petition filed by Chanda Kochhar against her termination as the managing director and chief executive officer of ICICI Bank A division bench of Justices N M Jamdar and M S Karnik accepted the bank's contention that Kochhar's petition was not maintainable as the dispute was contractual and concerns a private body.
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The panel is believed to have examined each financial transaction between the Kochhar family and Videocon group, and the suspected trail of properties and assets that the family acquired since Chanda Kochar became ICICI Bank's MD.
The bench was hearing Kochhar's appeal against the March 5 order of the high court which had dismissed the plea against termination of her services as managing director and CEO of ICICI Bank while noting that the dispute arises from a contract of personal service.
Kochhar is required to assist the investigating officer of the case in taking the probe forward and her statement will be recorded under the Prevention of Money Laundering Act (PMLA).
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'She was either overconfident that nothing will happen to her or she underestimated the gravity of the allegations.'
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The central bank filed an affidavit in response to a petition filed by Kochhar last month, challenging her ouster as the chief executive and managing director of ICICI Bank months after she voluntarily left the private sector lender. The bank, while terminating her employment, also denied her remuneration and rescinded the bonuses and stock options given to her from April 2009 to March 2018. She was accused of playing a role in grant of out-of-turn loans of Rs 3,250 crore to Videocon Group, which allegedly benefited her husband, Deepak Kochhar.
Santu Pan, who works for Republic Bangla news channel, was arrested on February 19 on the basis of a complaint by a woman alleging that he had trespassed into her house in Sandeshkhali.
The CBI later clarified that Rajiv Kochhar was only called for questioning and has not been apprehended yet.
Chess icon Viswanathan Anand feels the current crop of Indian players, that he has had a role in shaping, has turned out to be "great" in grabbing crucial opportunities.
The board has decided to appoint Sandeep Bakhshi as managing director and chief executive officer. His appointment will be for a period of five years until October 3, 2023, subject to various approvals.
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RBI Governor Raghuram Rajan's decision to not seek a second term is a "personal one" which everybody should respect, Chanda Kochhar MD & CEO, ICICI Bank said.
Kochhar retires by rotation, and being eligible, has offered herself for reappointment as director, said the broking arm in a notice for its Annual General Meeting to be held on August 30
Grandmasters Surya Shekhar Ganguly and GM Sandipan Chanda continued to share the lead with 5.5 points after the conclusion of the seventh round of the 42nd National 'A' Chess Championship.
Justifying the transfer, the CBI pinned the blame on Mishra for keeping the preliminary enquiry pending without any reasons, they said.
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 passed away last night due to heart-related ailments at a MUmbai hospital yesterday evening.
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The agency has also named companies Nupower Renewables, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries limited as accused in the FIR registered under IPC sections related to criminal conspiracy and provisions of prevention of corruption act.
Chanda Kochhar, became ICICI's first female CEO in May of 2009 - right in the thick of the global financial crisis - not an easy time to be the boss of a bank.
The order came following a petition in the high court seeking direction to the police to ensure protection to Opposition party workers in the wake of alleged post-poll violence in some places of the state following the elections.
As she begins her second term as MD & CEO, Chanda Kochhar wants the bank to grow more than the industry not by taking on more risk but by building a strong base of customers and shunning the pell-mell marketing of credit card and personal loans to newcomers.
The charge sheet has been filed before a special Prevention of Money Laundering Act (PMLA) court in Delhi and the court has listed the matter to be heard on January 16, the sources said.
The ICICI board, which consists 12 members, is divided on whether Kochhar should be on leave during the internal enquiry
The bank board had decided to launch an enquiry to be headed by an "independent and credible person", to examine and enquire into an anonymous whistle blower complaint alleging that the bank MD & CEO had not adhered to code of conduct
Sandeep Bakhshi named chief operating officer, who would be handling all the businesses.
Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company. However, the stance changed soon after the regulatory and probe agencies initiated enquiry in the matter.
Most legal experts indicate the former ICICI Bank CEO will take the matter to court. Her contention will be she can't be fired and called guilty without proof.
Grandmaster Vidit Santosh Gujrathi came good when it mattered most and defeated Marius Monalache of Romania to emerge as the best performing Indian in the Cappelle La Grande International Chess tournament that concluded in Cappelle La Grande, France.
Grandmaster Parimarjan Negi blundered and went down to Sandipan Chanda from a position of strength in the penultimate round of the 14th Dubai International Open chess tournament on Monday. Negi's loss turned out to be a big gain for Chanda as he joined the leader, Latvian Grandmaster Miezis Normunds, on 6.5 points.
'If she contests it, then these people will have to fight it in court.'
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Three new directors including private sector lender ICICI Bank CEO Chanda Kochhar and Citigroup South Asia head Mark Robinson have joined the board of Indian School of Business (ISB).
Chanda Kochhar said the only comforting factor is that investors pouring in money into such startups are 'mature'.
They remained in joint lead on 3.5 points each after the conclusion of the fourth round of Gibtelecom Masters International Open chess tournament.
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