CEO Chanda Kochhar would be on leave during probe in Videocon loan matter: ICICI Bank

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The ICICI Bank has announced that its CEO Chanda Kochhar would be on leave till completion of an enquiry against her in the Videocon loan matter.

The bank has named Sandeep Bakhshi as the Chief Operating Officer, COO, who would be handling all the businesses from today, subject to various approvals. He is currently Managing Director and CEO of the ICICI Prudential Life Insurance.

Chanda Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to the Videocon group.

Last month, the bank had announced an independent enquiry into the allegations against Mrs Kochhar following a complaint from a whistle-blower.

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