InvestorQ : I heard that Ex-CEO Chanda Kochhar have to repay ICICI bank approx. Rs 350 crore, but why?
swati Bakhda made post

I heard that Ex-CEO Chanda Kochhar have to repay ICICI bank approx. Rs 350 crore, but why?

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divya Sing answered.
1 year ago


Yeah, you have heard right! ICICIC Ex-CEO Chanda Kochhar might have to repay ICICI bank approx. Rs 350 crore. ICICI Bank quoted on last year October that they have full faith and confidence on Chanda Kocchar however, this move of revoking stock option is a result due to report of Retired Supreme Court Judge, B N Srikrishna, that claimed Kochhar to found guilty with respect to violate the bank’s code of conduct in disbursing loans to Videocon group. As a result, ICICI has asked her to repay over Rs 10.12 crore that she has received as bonuses since April 2009, and so bank has also revoked her stock options that she received as ESOP which values around Rs 346 crore. So, Chanda Kocchar has to repay Rs 353.12 crores in total.


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ramya Bhaskaran answered.
1 year ago


Trouble continues to pile for Chanda Kochhar and her husband Deepak Kochhar, the Enforcement Directorate (ED) has raised a question against them. The question is over the corruption practice done through sanctioning the loan of Rs 1,875 crore approx.

The former ICICI bank CEO had sanctioned the loan by the bank to the Videocon Group (2009-2011).

The ED claims that the transaction stands illegal as the loan funding was infused to NuPower, a company run by Deepak Kochhar. As per ED, Chanda Kochhar and her husband Deepak Kochhar both are under the eyes of investigating officers in the ED headquarters. They were questioned by the officials for about 8 hours. The couple may have to face summons of jail.