Our Special CorrespondentChanda KochharMumbai: The board of directors of ICICI Bank has buckled under pressure and ordered an independent enquiry into a raft of charges of impropriety against its chief executive Chanda Kochhar. Later, Dhoot had transferred his stake in NuPower to Deepak Kochhar for just Rs 9 lakh, six months after ICICI Bank provided the loan to Videocon. On March 28, the board of directors of ICICI Bank had issued a statement reposing "full faith in Bank's MD and CEO Chanda Kochhar." ICICI Bank's latest statement to the stock exchanges, which came after market hours, said the enquiry would be comprehensive and examine all the facts. The audit panel will also ensure that the person heading the enquiry will have access to independent legal and other professional support.

Source: The Telegraph May 30, 2018 20:48 UTC