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The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank’s board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the b
(This story has not been edited by THE WEEK and is auto-generated from a PTI
It is learnt that while the Board has given its go-ahead to prosecute Kochhar, it has said that no wrongful loss was caused to the bank in the loan transaction with Videocon.
The Central Bureau of Investigation (CBI) on Wednesday told a special court here that it received a sanction from the ICICI Bank's board to prosecute Chanda Kochhar, the former CEO and MD of the bank, in connection with a case of alleged cheating and irregularities in loans sanctioned by the bank to Videocon Group companies. The probe agency, represented by special public prosecutor A Limosin, told the court that the board of ICICI Bank in a resolution passed on April 22 this year gave its sanction to the prosecution (against Kochhar), accepting that there seemed to be quid pro-quo.
The Bombay High Court on Wednesday upheld a single judge’s order and refused to grant interim relief to the former CEO and MD of ICICI Bank Chanda Kochhar in her suit seeking specific performance of...