Some members in the ICICI Bank Board may not favour continuation of Chanda Kochhar as CEO and Managing Director of the bank amid allegation of nepotism in the Videocon loan case, said sources.
Kochhar's continuation at the top post may not find favour from some of the independent directors, they said.
According to the reports, Kochhar's husband Deepak Kochhar had formed a joint venture with Videocon promoter Venugopal Dhoot for a business dealing in renewable energy and there were a string of transactions later, which gave him full control of the venture after the exit of Dhoot.
Late last month, the bank admitted that Kochhar did not recuse herself from a credit committee meeting which decided to give a Rs 3,250 crore loan to diversified Videocon Group in 2012.
The Central Bureau of Investigation has initiated a preliminary enquiry into the matter to check any wrongdoing, while other agencies, including the Enforcement Directorate (ED), are also investigating the case.
However, the bank's board has stood firmly behind Chanda Kochhar, saying no wrong was committed by her, and the committee was headed by the bank's then chief K V Kamath.
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