Kochhar's termination case: HC seeks RBI's reply



Chanda Kochhar, the high-profile ex-banker had on November 30 moved the Bombay high court challenging “termination” of her employment by ICICI Bank which also denied her remuneration and clawed back all the bonuses and stock options between April 2009 and March 2018 for her alleged role in granting out of turn loans worth Rs 3,250 crore to the Videocon Group which benefitted her husband Deepak Kochhar. A division Bench of justices Ranjit More and SP Tavade allowed her to implead RBI and directed the apex bank to file its reply by December 16.



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Kochhar keen to make RBI party in ICICI Bank case



Kochhar’s counsel argued that according to Section 35B (b) of the Banking Regulation Act, prior approval of the RBI is required to terminate the contract of a bank’s chairman or managing director. But in this case, the RBI approval came after the termination letter was served.



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Videocon case: Kochhar yet to return ICICI Bank bonus



Kochhar was directed to return about Rs 10 crore in cash bonuses she had received as CEO, and also give up close to 6 million shares of the bank she had as stock option, which was about Rs 350 crore.



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Chanda Kochhar skips ED date; to be summoned again



The agency is also preparing to analyse the details of assets of the Kochhars and others so that they can be provisionally attached under the Prevention of Money Laundering Act



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Kochhar contests bonus clawback, ESOP termination



Until June 2018, the ICICI Bank board had given a clean chit to Kochhar with full backing and had said there was no question of favouritism, nepotism or conflict of interest on her part in granting loans to Videocon Industries or any other company.



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ED summons Chanda Kochhar on May 3



ED orders Chanda Kochhar to appear with asset lists also provide income-tax returns in her individual capacity and of companies if she was a director or held any position.



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Deepak Kochhar's assets may come under I-T lens



In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding



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Why it will be difficult to prove Kochhar's 'guilt'



Regulators and investigators around the world have access to sophisticated tools making it possible to detect white collar crimes. This is where Indian investigators and regulators have been found wanting, says Sudipto Dey.



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CBI issues lookout notice against Chanda Kochhar



It is alleged that during the tenure of Chanda Kochhar, six loans worth Rs 1,875 crore were cleared for the Videocon Group and its associated companies, in which in two cases she herself was on the sanctioning committees.



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Alas, Kochhar is NOT kosher



‘I am not surprised that hubris brought Chanda Kochhar down. It would appear that as a person she thought she could do no wrong and as a leader she considered herself above what her company demanded of others in terms of financial probity and honesty. That, my friends, is NOT a good way for a leader to feel,’ says S Muraleedharan, former managing director, BNP Paribas.



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