ICICI Bank sought dismissal of Kochhar's petition
The bank is seeking recovery of amounts towards the clawback of bonuses given to her from April 2006 to March 2018 after her termination of services by the bank
The bank is seeking recovery of amounts towards the clawback of bonuses given to her from April 2006 to March 2018 after her termination of services by the bank
The bank further stated that Kochhar flagrantly violated the ICICI Group Code of Business Conduct and Ethics.
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The total book value of these assets attached is to the tune of Rs 78 crore
Regulator to check end use of funds raised by companies that availed Rajiv Kochhar-led firm's services
Chanda Kochhar became the first Indian woman to receive the award
The fresh notice is more comprehensive and has cited the findings of former Justice Srikrishna panel, which was tasked to probe the quid-pro-quo transactions in ICICI Bank
Earlier, Kochhar had stated that ICICI Bank was under statutory obligation to obtain prior RBI approval to terminate her from service, and claimed that the bank did not seek any such approval.
Banking Regulation Act says that prior approval of the RBI is required to terminate the contract of a bank's chairman or managing director
CBI has questioned few ICICI Bank officials as part of a preliminary enquiry to find if any quid pro quo was involved in the bank's issuance of Rs. 32.5 billion loan to the Videocon Group in 201
She was accused of playing a role in grant of out-of- turn loans of Rs 3,250 crore to Videocon Group, which allegedly benefited her husband, Deepak Kochhar.
There are allegations of nepotism against Kochhar putting a question mark on the bank's corporate governance
A former chairman of a large PSU bank had been sounded out to take over as ICICI Bank chairman, but no decision taken so far
The three deposed as part of a regular summon and their statement is being being recorded under the Prevention of Money Laundering Act (PMLA), ED said
With this, the stage is set for an intense legal battle between the bank and its former CEO
The investment value of these assets is estimated at around Rs 100 crore
The RBI said while approving Kochhar's termination, it acted in accordance with the statutory provisions
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