Icici bank chanda kochhar

Synopsis ​​The Bombay High Court later granted interim bail to the couple (Kochhars) and came down heavily on the CBI for making the arrest in a "casual and mechanical" manner and without application of mind. The agency had also arrested Videocon group founder Venugopal Dhoot. ​​He has also been granted interim bail. The Central Bureau of Investigation ( The probe agency, represented by special public prosecutor A Limosin, told the court that the board of ICICI Bank in a resolution passed on April 22 this year gave its sanction to the prosecution (against Kochhar), accepting that there seemed to be quid pro-quo. • Khanda, who led anti-India protest dies • Flying taxi is top trend at VivaTech in Paris • Biparjoy: Will continue upto midnight, says IMD • IndiGo plane suffers tail strike while... • Purola Love Jihad row: Mahapanchayat cancelled • Ten quick tips to become a 'Professional Trader' • 10 stocks with highest EBITDA margin in FY23 • Biparjoy: Ground report from affected area • Asia Cup 2023: ACC accepts hybrid model • NIA seeks info on London's Indian HC attackers

By India Today Web Desk: A Padma Bhushan awardee, pioneer of the retail banking revolution in the country, celebrity CEO and an icon for women, Chanda Kochhar has been a regular on the covers of Forbes and Fortune. She was instrumental in making ICICI Bank the country's biggest private sector lender. Chanda Kochhar was arrested by the Central Bureau of Investigation (CBI) along with her husband Deepak in connection with the alleged cheating and irregularities in loans sanctioned by ICICI Bank to firms of the Videocon Group. She was mired in allegations of conflicts of interest, lack of disclosures and quid pro-quo while extending loans to Videocon. She, in fact, was the first woman to head a large lender in the country. A favourite of the then group chairman KV Kamath, Kochhar joined ICICI Bank as a management trainee in 1984. She rose through the ranks to play an important part in its transformation into a retail-focused lender when it turned into a commercial bank in the early 1990s. Before her elevation to the corner office, she was a key member of the bank's management and was also the chief financial officer. Also Read | Her firm control of the institution led to a complete stoppage of negative press - there was just one bank run incident during her tenure. When an RBI review in 2015 found a large amount of under-reported dud assets with the bank, she announced a new strategy of concentrating only on well-rated borrowers. She has led many social causes, but her inspir...

Almamater Occupation(s) Former MD & CEO, Spouse Deepak Kochhar Children 2 Chanda Kochhar ( Advani, born 17 November 1961) is the former managing director (MD), and Kochhar is facing allegations of Early life and education [ ] Kochhar was born in Career [ ] 1984–1993 [ ] In 1984, Kochhar joined the 1993–2009 [ ] Kochhar was instrumental in establishing In 1996, Kochhar headed the newly formed Infrastructure Industry Group of In 1998, she was promoted as the General Manager (GM) and headed ICICI Bank's major client group, which handled relationships with ICICI's top 200 clients. In 1999, she also handled the strategy and e-commerce divisions of ICICI Bank. Under Kochhar's leadership, ICICI Bank started building the nascent retail business in 2000 focusing largely on technology, innovation, process engineering and expansion of distribution and scale. In April 2001, she took over as executive director. In 2006, Kochhar was appointed as deputy managing director of ICICI Bank. In 2006–07, Kochhar handled the international and corporate businesses of the bank. From 2007 to 2009, she was the bank's chief financial officer (CFO) and joint managing director. 2009 to 2018 [ ] In 2009 Kochhar was appointed as managing director and chief executive officer of the bank and has been responsible for the bank's diverse operations in India and overseas. Kochhar is a member of the India–Russia Business Leaders Forum and the US-India CEO Forum. Kochhar received an honorary doctorate from Actin...

• • • • ICICI Bank Board gives nod to prosecute its former MD and CEO Chanda Kochhar ICICI Bank Board gives nod to prosecute its former MD and CEO Chanda Kochhar It is learnt that while the Board has given its go-ahead to prosecute Kochhar, it has said that no wrongful loss was caused to the bank in the loan transaction with Videocon. THE ICICI Bank Board has given sanction to prosecute its former Managing Director and CEO Chanda Kochhar under the Prevention of Corruption Act in connection with A chargesheet was filed by the CBI in April against Kochhar, her husband, Deepak, Videocon Chairman Venugopal Dhoot and six others. The CBI had then said that it had sought a sanction to prosecute Kochhar and it was yet to receive it. It is learnt that while the Board has given its go-ahead to prosecute Kochhar, it has said that no wrongful loss was caused to the bank in the loan transaction with Videocon. The Board has instead considered the transaction of Rs 64 crore allegedly received by Deepak’s firm, Nupower Renewables, from Videocon Industries Limited, while granting sanction under the anti-corruption Act. The CBI had alleged that this showed that Kochhar had “dishonestly” abused her official position in disbursing a loan to Videocon on September 7, 2008, as on the very next day Rs 64 crore was received from the company to her husband’s firm. The CBI while On Thursday, CBI counsel A Limosin informed the court that the sanction was received from the ICICI Bank Board. He sought ...

ICICI-Videocon loan case: Chanda Kochhar, former ICICI Bank CEO and Managing Director, and her husband Deepak Kochhar were arrested by the Central Bureau of Investigation on Friday for alleged cheating and irregularities in an over Rs 3,000-crore loan provided to the Videocon Group by the bank during her tenure in 2012.  The CBI said that the Kochhars were evasive in their responses and did not cooperate in the investigation. They will be produced before a special CBI court on Saturday. As per the case details, Nupower Renewable was owned by Chanda Kochhar’s husband Deepak. Videocon promoter Venugopal Dhoot allegedly invested crores of rupees in Nupower months after the Videocon Group got Rs 3,250 crore as loan from ICICI Bank in 2012, which was sanctioned by Chanda.  But eventually, the loan to Videocon turned into a Non-Performing Asset (NPA), or bad loan, and was later marked as a 'bank fraud'. In October 2018, Chanda Kochhar, now 59, stepped down as the CEO and MD of the bank, and charges were put that she “favoured Videocon Group”, a consumer electronics and oil and gas exploration company. In an FIR issued in 2019, the CBI said that the accused, Chanda, sanctioned certain loans to private companies in a criminal conspiracy with others to cheat ICICI Bank. In September 2020, the Enforcement Directorate arrested Deepak Kochhar as one of the main accused in the ICICI-Videocon loan case, and was booked under the Prevention of Money Laundering Act (PMLA). The C...

MUMBAI, Jan 9 (Reuters) - An Indian court on Monday granted bail to former ICICI Bank Kochhar was one of India's highest-profile business leaders before she was ousted as ICICI CEO in 2019 following allegations that the bank, under her watch, sanctioned "high value" loans to Videocon in violation of its lending policies. In return, Videocon's owner invested in NuPower Renewables, founded by Kochhar's husband Deepak, the Central Bureau of Investigation (CBI) alleges. The agency arrested Videocon Chairman Venugopal Dhoot late last month. All the parties have denied the allegations of loan fraud. The Bombay High Court on Monday ordered that the Kochhars be released on bail. It said the arrests, done by the CBI alleging that the Kochhars had been not been cooperating with the investigation, were "not in accordance with law". "The ground for arresting the petitioners as stated in the arrest memos, is unacceptable and is contrary to the reason(s)/ground(s) on which a person can be arrested," said the order by judges Prithviraj K. Chavan and Revati Mohite Dere. The Kochhars will be released on cash bail of 100,000 rupees ($1,214) each "for a period of two weeks". ($1 = 82.3600 Indian rupees) Information you can trust Reuters, the news and media division of Thomson Reuters, is the world’s largest multimedia news provider, reaching billions of people worldwide every day. Reuters provides business, financial, national and international news to professionals via desktop terminals, ...

The Central Bureau of Investigation (CBI) on Wednesday informed a special court that it has secured sanction under the Prevention of Corruption Act (PCA) to prosecute former ICICI bank MD-CEO Chanda Kochhar in the loan fraud case it had registered against her. Chanda Kochhar and her husband Deepak Kocchar had been arrested on Dec 23 last year. The couple was granted bail by the Bombay High Court on Jan 10. The court had held that their arrest was not in compliance with law and that the arrest had taken place in a mechanical manner without application of mind. As per the CBI’s allegations, there are two instances of kickbacks received by the Kochhars in exchange for the bank disbursing loans to Dhoot's Videocon group firms. Chanda Kochhar was then heading the bank and sanctioned these loans after she took over. The agency says she was on the loan sanctioning committee for these loans. It alleges that a company managed by her husband allegedly received Rs 64 crore a day after ICICI bank disbursed one of the loans of Rs 300 crore.

Mumbai: The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank's board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The probe agency, represented by special public prosecutor A Limosin, told the court that the board of ICICI Bank in a resolution passed on April 22 this year gave its sanction to the prosecution (against Kochhar), accepting that there seemed to be quid pro-quo. Chanda Kochhar and her husband Deepak Kochhar were arrested by the central probe agency in December last year in connection with the case. The Bombay High Court later granted interim bail to the couple (Kochhars) and came down heavily on the CBI for making the arrest in a "casual and mechanical" manner and without application of mind. The agency had also arrested Videocon group founder Venugopal Dhoot. He has also been granted interim bail. The CBI had named the Kochhars and Dhoot, along with companies Nupower Renewables (NRL) managed by Deepak Kochhar, Supreme Energy, Videocon International Electronics Ltd and Videocon Industries Limited, as accused in the First Information Report (FIR) registered under Indian Penal Code (IPC) sections related to criminal conspiracy and provisions of the Prevention of Corruption Act in 2019. The CBI has alleged that ICICI Bank had sanctioned credit fac...

Synopsis The special CBI court handling the case is verifying the chargesheet and other documents and after that will decide on taking cognisance of the chargesheet, the people said. Cognisance by the court is a must to start a trial. The ICICI Bank board had sanctioned the prosecution on April 22 and the CBI received the communication on May 15, the people told ET. In July 2021, while granting sanction to conduct the inquiry, the bank had said "the loans under probe were extinguished and no wrongful loss has been caused to the bank", Kochhar's lawyer Amit Desai said, quoting the bank's communication to the CBI during the course of the remand pleas against her. "...due process was followed while granting the loans" but the sanction was given "considering the allegations of bribery and corruption", Desai had said. According to the CBI's case, a wrongful loss of more than ₹1,033 crore had been caused to the bank when Kochhar was at its helm. In April, the CBI had filed its first chargesheet against Kochhar, who was also the bank's former managing director, her businessman husband Deepak, and Don’t miss out on ET Prime stories! Get your daily dose of business updates on WhatsApp. • Balaji's arrest: Oppn slams ED's actions • Cyclone Biparjoy: Over 30,000 evacuated • Sensex up 85 pts, Nifty tops 18,750 • Internal war within BJP over K'taka poll debacle • 'I'm a victim of Congress' politics' • Watch: CM Stalin visits Senthil Balaji in hospital • Cyclone Biparjoy: Red alert in 6 ...

From a management trainee to heading one of the leading Indian banks, Chanda Kochhar proved her mettle and prowess early in her career. However, what seemed like an impeccable and exemplary work life soon saw the Kochhar's time as an integral member and eventual head of ICICI bank be deemed immoral. On 23 December 2022, former ICICI MD and CEO Chanda Kochhar and her husband Deepak Kochhar were arrested for involvement in the Rs 3,250 crore Videocon scam. Let's take a glimpse of the ups and downs into the life of the first woman and the youngest CEO to head ICICI Bank. 1982- Graduated from Jai Hind College, University of Mumbai Bachelor's of Arts 1984- Joined ICICI Limited as a management trainee post studying cost accountancy at the Institute of Cost Accountants of India and pursuing her master's in Management Studies from the Jamnalal Bajaj Institute of Management Studies, Mumbai. 1993- The commercial banking vertical, ICICI Bank, is set up with Kochhar being instrumental in the proceedings. 1994- Promoted to Assistant General Manager. 1996- Promoted to Deputy General Manager. 1998- Promoted to General Manager and handled Major Client Group comprising the top 200 clients of ICICI Bank. 1999- Took additional charge of heading the strategy and e-commerce divisions of ICICI. July 2020- Under Kochhar, ICICI enters the retail business. 2001- Became the Executive Director, heading the retail business in ICICI Bank. April 2006- Appointed as the Deputy Managing Director of ICICI ...