The ED has continued to probe loans given by ICICI Bank when its ex CEO & MD Chanda Kochhar was at its helm and with the angle from any malpractices and criminal mis conduct. The interim findings suggest that the Kochhar’s recieved kickbacks worth at least ₹ 500 crores in consideration of loans sanctioned as quid pro quo arrangement. Assets created as a result of these proceeds of crime are bound to be seized. The larger picture is the failure of the board to restrain such loans given and the fact that the entire committee was involved and not just Chanda Kochhar alone and it is a collective responsibility. However, the last time when CBI proposed to investigate all senior board members of ICICI Bank, Mr. Arun Jaitley raised a big hue and cry and said it would hurt the interests of the entire banking industry. We ask the question that whether this time, after investigation of the ED, will he do the same?
As an independent media platform, we do not take advertisements from governments and corporate houses. It is you, our readers, who have supported us on our journey to do honest and unbiased journalism. Please contribute, so that we can continue to do the same in future.
