NEW DELHI: Whether Chanda Kochhar will continue as managing director and CEO of private sector lender ICICI Bank will become clearer by the end of November. The bank’s chairman GC Chaturvedi stated on Thursday that the Justice B N Srikrishna-headed panel, which is probing alleged malpractices at the bank, is expected to file its final report within two-and-a-half months.
Chaturvedi said that a decision on Kochhar will be taken after the panel reveals its findings. The beleaguered bank CEO has been on indefinite leave since June, when allegations of impropriety on Kochhar’s part were made by a whistleblower with regard to certain loans to the Videocon group.
The panel is now probing Kochhar and her family members for any instances of quid pro quo and conflict of interest. Chaturvedi, however, added that pending the report, Kochhar remains the CEO of ICICI Bank. “The bank is yet to reply on Videocon notice by SEBI as we are waiting for Srikrishna panel report,” he told reporters here.
Agencies such as CBI and SEBI are already probing the alleged lapses involving Kochhar and her family members. The current tenure of Kochhar, who has been at the helm since 2009, ends next March.