ICICI CEO Chanda Kochhar accused of conflict of interest

CEO, MD ICICI Bank Chanda Kochhar finds herself in a swirl of allegations of conflict of interest.

Reiterating its stand on the Videocon issue, ICICI Bank Chairman MK Sharma on Thursday said reports alleging nepotism by the lender's MD and CEO Chanda Kochhar were unfounded and malicious in nature.

Saying that ICICI's exposure to the Videocon group (Videocon Industries and 12 of its subsidiaries/associates as co-obligors) for a debt consolidation programme and for the group's oil and gas capital expenditure programme aggregating approximately Rs 40,000 crore was less than 10 per cent.