Chanda Kochhar ( Advani, born 17 November 1961) is former managing director and chief executive officer of ICICI Bank. However, on 4 October 2018  she stepped down from her position as part of government change of banking procedure. Her Portfolio being Videocon funding. Chanda Kochhar quits ICICI Bank.Sandeep Bakhshi is appointed new CEO. Her contribution to portfolio include Videocon and board of ICICI Bank. After her exit, Sandeep Bakhshi, who was the interim Managing Director and CEO became the full-time MD and CEO of ICICI Bank. 1984–1993 In 1984, Kochhar joined the Industrial Credit and Investment Corporation of India (ICICI)ICICI was merged into its daughter project ICICI Bank in 2002. as a management trainee. During her early years at ICICI, she handled project appraisal and monitoring and evaluated projects in industries such as textile, paper and cement. Allegations Kochhar allegedly favoured Videocon Group in lending practices. ICICI Bank said it has decided to institute an independent enquiry into the allegations. On 29 March 2018, The Indian Express first reported that Videocon group promoter Venugopal Dhoot provided crores of rupees allegedly to NuPower Renewables Pvt Ltd (NRPL), a firm he had set up with Chanda Kochhar's husband Deepak Kochhar and two relatives six months after the Videocon group got Rs 3,250 crore as loan from ICICI Bank in 2012. He allegedly transferred proprietorship of the company to a trust owned by Deepak Kochhar for Rs 9 lakh, six months after he received the loan from ICICI Bank. The Videocon account was declared an NPA (Non-performing Assets) or a bad loan in 2017 according to the report. "The Income Tax department is also probing the acquisition of the swanky family residence of Chanda Kochhar, the CEO and MD of ICICI Bank, in South Mumbai by her husband Deepak Kochhar in a complex transaction involving firms linked to Videocon Group", reported the Indian Express. On 24 January 2019, Chanda, her husband Deepak, and industrialist Venugopal Dhoot were named in a CBI FIR for cheating and defrauding ICICI Bank to the tune of Rs 1,730 crore. CBI detailed the modus operandi and charged them with offences punishable under Section 120B (conspiracy) and 420 (cheating) of IPC, section 7 (taking gratification) and 13(2) (criminal misconduct) read with 13(1)(d) (pecuniary advantage) of the Prevention of Corruption Act. Following CBI action, 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. There are several public complaints sent to the Ministry of Finance, particular to the Union Finance Minister suggesting to withdraw esteemed civilian awards such as Padma Shri and Padma Bhushan awarded to Chanda by the Union Government of India. The Enforcement Directorate attached the properties of Chanda Kochhar and her family in connection with the money laundering case on 10 January 2020. The book value of the attached assets was Rs 78 crore according to ED.
Chanda Kochhar ( Advani, born 17 November 1961) is former managing director and chief executive officer of ICICI Bank. However, on 4 October 2018 , she stepped down from her position as part of government change of banking procedure. Her contribution to portfolio included Videocon and board of ICICI Bank. After her exit, Sandeep Bakhshi, who was the interim Managing Director and CEO became the full-time MD and CEO of ICICI Bank. 1984–1993 In 1984, Kochhar joined the Industrial Credit and Investment Corporation of India (ICICI)ICICI was merged into its daughter project ICICI Bank in 2002. as a management trainee. During her early yea₹ at ICICI, she handled project appraisal and monitoring and evaluated projects in industries such as textile, paper and cement. Allegations Kochhar allegedly favoured Videocon Group in lending practices. ICICI Bank said it has decided to institute an independent enquiry into the allegations. On 29 March 2018, The Indian Express first reported that Videocon group promoter Venugopal Dhoot provided crores of rupees allegedly to NuPower Renewables Pvt Ltd (NRPL), a firm he had set up with Chanda Kochhar's husband Deepak Kochhar and two relatives six months after the Videocon group got ₹ 3,250 crore as loan from ICICI Bank in 2012. He allegedly transferred proprietorship of the company to a trust owned by Deepak Kochhar for ₹ 9 lakh, six months after he received the loan from ICICI Bank. The Videocon account was declared an NPA (Non-performing Assets) or a bad loan in 2017 according to the report. "The Income Tax department is also probing the acquisition of the swanky family residence of Chanda Kochhar, the CEO and MD of ICICI Bank, in South Mumbai by her husband Deepak Kochhar in a complex transaction involving firms linked to Videocon Group", reported the Indian Express. On 24 January 2019, Chanda, her husband Deepak, and industrialist Venugopal Dhoot were named in a CBI FIR for cheating and defrauding ICICI Bank to the tune of ₹ 1,730 crore. CBI detailed the modus operandi and charged them with offences punishable under Section 120B (conspiracy) and 420 (cheating) of IPC, section 7 (taking gratification) and 13(2) (criminal misconduct) read with 13(1)(d) (pecuniary advantage) of the Prevention of Corruption Act. Following CBI action, 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. There are several public complaints sent to the Ministry of Finance, particular to the Union Finance Minister suggesting to withdraw esteemed civilian awards such as Padma Shri and Padma Bhushan awarded to Chanda by the Union Government of India. The Enforcement Directorate attached the properties of Chanda Kochhar and her family in connection with the money laundering case on 10 January 2020. The book value of the attached assets was ₹ 78 crore according to ED.
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Portfolio being Videocon funding. Chanda Kochhar quits ICICI Bank.Sandeep Bakhshi is appointed new CEO. Her
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