Some directors were not part of both meetings and prior intimation with the agenda was not given to the stock exchanges.“Since the board’s first declaration about 10 days ago that it has faith in Chanda Kochhar, a lot has happened,” said one person. The government appointed Lok Ranjan, joint secretary in the department of financial services, to replace Amit Agrawal as its nominee director effective April 5. “She has been going through her routine work stoically and professionally. It is admirable the way she has been coping and dealing with business matters as usual, without displaying nervousness or worry at the workplace. She is confident that there is nothing to hide and therefore she is refusing to let the critics distract her.”

Source: Economic Times April 09, 2018 00:56 UTC