Money & Banking

Chanda Kochhar up for re-appointment as director on ICICI Securities board

Surabhi Mumbai | Updated on August 22, 2018 Published on August 22, 2018

ICICI Bank CEO and Managing Director Chanda Kochhar, who is on leave pending a probe into alleged irregularities in sanctioning loans, is likely to be re-appointed as a director on the board of ICICI Securities. The proposal will be taken up at the annual general meeting of ICICI Securities on August 30.

“Appointment of Chanda Kochhar, who retires by rotation and being eligible, offers herself for re-appointment: To consider and, if thought fit, to pass the following resolution as an Ordinary Resolution,” said the notice for the AGM by ICICI Securities.

Kochhar is also a director on the boards of other group companies, including ICICI Lombard General Insurance, ICICI Prudential Life Insurance Company, ICICI Prudential Asset Management Company as well as ICICI Bank Canada.

A veteran banker, Kochhar has been on leave since June 19 this year, while an independent investigation by a panel headed by former Supreme Court Judge Justice BN Srikrishna, looks into allegations of corporate misconduct and quid pro quo in giving loans to the Videocon Group.

Published on August 22, 2018
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