An internal investigation by the bank found that no action was taken by ICICI Bank on concerns raised by the senior official in his email. Records show that no loan proposal went to the credit committee of ICICI Bank without discussing and being approved by Chanda Kochhar. The investigation said that Chanda Kochhar, even after leaving the bank in October 2018, “was in a position to excercise significant influence” to obtain “confidential” information from ICICI Bank. E-mails sent to Chanda Kochhar did not elicit any response. Following allegations of conflict of interest and impropriety by Chanda Kochhar, the ICICI Bank board instituted an investigation under retired Supreme Court Justice B N Srikrishna.

Source: Indian Express May 02, 2019 23:15 UTC