ICICI Bank appoints Sandeep Bakhshi as COO, Chanda Kochhar goes on leave
Posted on 19th June 2018 |
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The board of ICICI Bank has appointed Sandeep Bakhshi whole-time director and chief operating officer (COO) to run the affairs of the private lender. Chanda Kochhar, managing director (MD) & chief executive officer (CEO) will be on leave, pending the probe. The changes come amid allegations of a quid pro quo in transactions between Videocon Industries, Kochhar and her husband Deepak Kochhar’s company NuPower Renewables. |
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Videocon case: ICICI Bank weighs leave for Chanda Kochhar till probe report
Posted on 18th June 2018 |
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ICICI Bank Chairman M K Sharma has written an email to board members seeking their opinion on whether Managing Director (MD) & Chief Executive Officer (CEO) Chanda Kochhar should be asked to go on indefinite leave until the internal enquiry is concluded, said people in the know.
“In an email sent to board members last week, Sharma asked board members whether they agreed that Kochhar should go on indefinite leave until the ICICI Bank-constituted enquiry is completed to have a fair outcome,” said one of the persons cited above. |
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ICICI Bank moves NCLT against Punj Lloyd under IBC
Posted on 15th June 2018 |
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Punj Lloyd Ltd was referred to the National Company Law Tribunal (NCLT) on Thursday by ICICI Bank Ltd to recover dues worth 852 crore, sending the construction company’s stock tumbling by more than 11%. A two-judge NCLT bench, headed by M.M. Kumar, issued a notice to Punj Lloyd, asking it to file a reply to ICICI Bank’s plea. |
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Truecaller set to make deals with Chillr to foray into digital payments
Posted on 14th June 2018 |
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Phone number search engine Truecaller on Wednesday announced a strategic investment into the payments space in India by acquiring Chillr, the country’s first multi-bank payments app. Truecaller co-founder and chief strategy officer Nami Zarringhalam said the founders of Chillr — Sony Joy, Anoop Sankar, Mohamed Galib and Lishoy Bhaskaran — will join Truecaller. |
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No communication from SEC on Chanda Kochhar, says ICICI Bank
Posted on 12th June 2018 |
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ICICI Bank today said it has not received any "specific communication" from the US markets regulator SEC with regard to alleged lapses involving the lender's chief Chanda Kochhar and her family members. The bank's response was sought by stock exchanges regarding a report that matter of alleged lapses involving Kochhar has come under the scanner of the US Securities and Exchange Commission (SEC). |
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ICICI Bank, Kochhar under lens in US, Indian agencies may seek foreign help
Posted on 11th June 2018 |
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As multi-agency probe continues in India into alleged lapses involving ICICI Bank’s chief Chanda Kochhar (pictured) and her family members, the matter has also come under the scanner of the US markets regulator Securities and Exchange Commission (SEC). Besides, the Indian regulators and investigative agencies are mulling seeking help from their overseas counterparts, including in Mauritius, as part of their own probes, officials said. |
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Nothing to worry, ICICI Bank has robust systems: Piyush Goyal
Posted on 9th June 2018 |
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For the first time, the government has broken its silence on the governance issues at ICICI Bank. Interim finance minister Piyush Goyal said in press conference, "ICICI Bank has robust and systems and processes. Investigations and its finding will be out soon. As far as the law is concerned, the law of the land will take its own course." |
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Videocon case: ICICI Bank, Kochhar miss Sebi deadline, ask for more time
Posted on 8th June 2018 |
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ICICI Bank and its managing director and chief executive officer, Chanda Kochhar, have sought more time to respond to a show-cause notice served by the Securities and Exchange Board of India (Sebi). According to sources, they have written to the regulator, requesting it to share documents on the basis of which the notice was served. The deadline to respond to the notice was Thursday. |
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ICICI Bank board begins search for new chairman
Posted on 4th June 2018 |
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MUMBAI: The board of ICICI Bank has begun looking for a new chairman as the term of the incumbent, MK Sharma, expires at the end of this month and he may not want a second term. Veteran banker and former Bank of Baroda chairman and managing director MD Mallya is the frontrunner to succeed Sharma, two people aware of the development said. Mallya was appointed to the ICICI Bank board on May 29. |
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Whistle-blower in ICICI Bank case writes another letter to PM Modi
Posted on 2nd June 2018 |
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Even as ICICI Bank set up an enquiry to investigate an anonymous whistle-blower’s complaint, activist shareholder Arvind Gupta has written another letter to Prime Minister Narendra Modi, with new allegations against the lender, Chanda and Deepak Kochhar, the Ruias-owned Essar group and Ruias’ relatives. |
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