Corporate governance: Is media activism desirable?

There are a lot of similarities between the Infosys story and how the ICICI bank story is unfolding

The board of ICICI Bank has instituted an enquiry into the allegation against Chanda Kochhar (CEO) that she misused her position for benefitting herself and/or her family (spouse) by granting favour to two business houses (Videocon and Essar group) in granting loan and that she failed to comply with disclosure norms. The Serious Fraud Investigation Office, the Central Bureau of Investigation (CBI) and the Income Tax Department are investigating into the alleged fraud and/or non-compliance by the company in which Kochhar’s husband has substantial financial interest. The media has created the perception that two unrelated issues — one investigation by