{"id":28743,"date":"2018-10-24T14:36:57","date_gmt":"2018-10-24T09:06:57","guid":{"rendered":"https:\/\/blog.forumias.com\/?p=28743"},"modified":"2018-10-24T14:36:57","modified_gmt":"2018-10-24T09:06:57","slug":"the-last-to-know","status":"publish","type":"post","link":"https:\/\/forumias.com\/blog\/the-last-to-know\/","title":{"rendered":"The last to know"},"content":{"rendered":"

The last to know<\/a><\/p>\n

News:<\/strong><\/p>\n

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  1. The inquiry against the CEO Chanda Kochhar of ICICI bank has pointed out the conduct of the bank board and raises concerns about corporate governance.<\/li>\n<\/ol>\n

    Important Facts:<\/strong><\/p>\n

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    1. In 2016, a complaint has been raised by an investor alleging a\u00a0quid pro quo<\/strong>deal between Ms. Kochhar\u2019s immediate family members and the Videocon group.<\/li>\n
    2. The Videocon group has received \u20b93,250-crore loan from ICICI bank.<\/li>\n
    3. Central Bureau of Investigation and SEBI has pitched an inquiry in the issue.<\/li>\n
    4. The investigating authority pointed out that the bank had failed to make adequate disclosures about its dealings with the borrower (who is now a defaulter) and a firm.<\/li>\n
    5. The board of ICICI Bank has finally acted on the allegations of misconduct against its CEO and managing director, Chanda Kochhar.<\/li>\n
    6. Chanda Kochhar will stay away from the office till the completion of an inquiry into the charges levelled against her by a whistle-blower.<\/li>\n
    7. Till the inquiry is complete the bank will be steered by a new chief operating officer Sandeep Bakhshi.<\/li>\n
    8. The probe panel has been constituted under retired Supreme Court judge B.N. Srikrishna.<\/li>\n
    9. Issues<\/li>\n<\/ol>\n