Chanda Kochhar is the former CEO of ICICI Bank who stepped down in 2018 amid allegations of nepotism and corruption in providing loans to Videocon Group. She faces charges related to a Rs 3,250 crore loan given to Videocon which later turned NPA. Her husband Deepak Kochhar's company received an investment from Videocon after the loan, representing a conflict of interest. The CBI and ED are investigating these charges and have filed cases against Chanda Kochhar.

1. CHANDA
KOCHHAR
- PREKSHA GARG

2. ABOUT
• Chanda kochhar is the former MD and chief executive officer of ICICI Bank.
• Born on 17th November, 1961.
• Studied cost accountancy from Institute of Cost Accountants of India and
Perused master of management studies degree in University of Mumbai from
Jamnalal Bajaj Institute of Management Studies.
• She received the Wockhardt Gold Medal for Excellence in Management Studies
as well as the J. N. Bose Gold Medal in Cost Accountancy.
• She is widely recognized for her role in shaping the retail banking sector in India
and for her leadership of the ICICI Group, as well as her contributions to various
forums in India and globally.
• In 2014, she has been named among fortune’s 50 most powerful women in
business women in the fourth consecutive year.
• Under the leadership of kochhar, ICICI has transformed itself from corporate bank
into a retail bank, and now a universal bank.

3. CAREER
• 1984-1983 – Joined the industrial Credit and Investment Corporation of
India (ICICI Bank)
• 1993-1999 – Helped in establishing ICICI Bank. From assistant General
Manager she became the General Manager to head the major clients of
ICICI Bank.
• 2006-2007 – She handled International and Corporate business of the
bank.
• 2007-2009 – She was the bank’s Chief Financial Officer and Joint
Managing Director
• 2009- 2016 – Became a member of the Indian-Russia Business Leaders
Forum and the US- India CEO Forum.
• 2018 – Stepped down from her position of Manging Director and CEO of
ICICI Bank

4. ACHIEVEMENTS
• Retail Banker of the Year honour by the Asian Banker in the year 2004.
• Business Woman of the Year recognition by the Economic Times in the
year 2005.
• Rising Star Award by the Retail Banker International in 2006.
• She was featured in the list of “30 Most Powerful Woman Leaders” in
business for eight years continuously.
• Transformational Business Leader of the Year by the All India
Management Association in the year 2010.

5. CONT.
• Chanda Kochhar was ranked the 10th in position in the list by Fortune
magazine of “ Most Powerful Women in Business” during 2010.
• Achieved 92nd rank in Forbes list of “Most Powerful Woman” for 2010.
• The CNBC TV 18 awarded her in the year 2010 as the “Outstanding
Woman Business Leader of the Year”.
• Her name got the rank to be the 11th in the Financial Times list for the “Top
50 Woman in World Business
• She was awarded the Padma Vibhushan in the year 2011.

6. PROBLEMS
• Deepak Kochhar, whose company NuPower Renewables allegedly received an investment
from a Videocon group company as a quid pro quo for a loan from the bank.
• Dhoot allegedly invested crores of rupees in Nupower months after the Videocon group
got Rs 3,250 crore as loan from the ICICI Bank in 2012.
• Arvind Gupta accused Chanda Kochhar of conflict of interest and corporate misconduct
while sanctioning loans to Videocon.
• Whistle-blower Gupta alleged that a company owned by Dhoot loaned Rs 64 crore in
March 2010 to NuPower Renewables that he and Deepak Kochhar had jointly promoted
just two year ago.
• A complex web of deals resulted in a trust controlled by Deepak Kochhar acquiring the
lending company six months after the Videocon Group got the loan from ICICI Bank.
• The transfer of company shares to Kochhar’s trust was made at a paltry Rs 9 lakh.
• CBI in Action Chanda, her husband Deepak, and industrialist Venugopal Dhoot were
named in a CBI FIR for cheating and defrauding ICICI Bank, with amount of Rs 1730
crores.

7. CONT.
• The Enforcement Directorate lodged a case of money laundering against Chanda Kochhar in
connection with loans disbursed by bank to the Videocon Group which later turned into NPAs.
• The Enforcement Directorate attached the properties of Chanda Kochhar and her family in
connection with the money laundering case on 10 January 2020.
• With Rajiv Kochhar - The CBI questioned ICICI bank CEO Chanda Kochhar’s brother-in-law Rajiv
kochhar in connection with a preliminary enquiry(PE) into allegations of nepotisms and
corruption in loans granted by the private sector lender to the Videocon Group.
• Questioned and then let off. This came days after the agency questioned a few ICICI Bank
executives to ascertain whether there was any wrongdoing in the bank issuing a Rs. 3250 cr. loan
to Videocon Group in 2012.
• Rajiv Kochhar, an NRI is the CEO of Singapore-based Avista Advisory Group which advises
companies on financial restructuring, mergers and acquisitions and fund-raising
• It was further alleged that the company may have got a commission of as much as 5% for
brokering loans from ICICI Bank.
• Kochhar had denied any links with the ICICI Bank and allegations of any wrongdoing.

8. CONCLUSION
• The Central Bureau of Investigation named Chanda Kochhar and her
husband as beneficiaries in the financial fraud.
• The Justice B N Shrikrishna probe panel reported that Kochhar had
violated ICICI Bank's Code of Conduct, following which her service
was terminated with all her entitlements and benefits revoked.
• The damage to her as well as the bank’s reputation is colossal.
• Her moral standing and ability to demand total integrity from her staff
and her effectiveness as a leader stands weakened.
• And the damage goes beyond just affecting the morale of the bank
staff.