Name: Why ICICI CEO Chanda Kochhar has not yet been asked to step down by board or RBI
Uploaded: 2018-04-12T21:03:18+0000
Channel: Rajeev Dubey
Description: The ICICI chief has allegations of nepotism, conflict of interest and impropriety against her.

Money

Chanda Kochhar

&lt;p id='p_1'&gt;Chanda Kochhar&amp;rsquo;s husband Deepak Kochhar and Videocon Group promoter Venugopal Dhoot, in December 2008, established an energy company named NuPower Renewables, from which Dhoot resigned after a month.&amp;nbsp;RBI findings traced investments into NuPower Renewables, that included an investment of Rs 325 crore through the &amp;ldquo;automatic route&amp;rdquo; from Mauritius-based firm First Land Holding into NuPower. Ownership details of this offshore entity, according to RBI&amp;rsquo;s findings, &amp;ldquo;could not be traced&amp;rdquo;, the report said. It added the RBI findings state that while ICICI Bank had declared NuPower Renewables as a &amp;ldquo;related party from October 2015&amp;rdquo;, it had not done so in the case of three companies &amp;mdash; Pacific Capital Services, Pinnacle Energy and Supreme Energy.&lt;/p&gt;

Why ICICI CEO Chanda Kochhar has not yet been asked to step down by board or RBI

The ICICI chief has allegations of nepotism, conflict of interest and impropriety against her.