Probe against ChandaKochhar for dodgy realty deal

Probe against ChandaKochhar for dodgy realty deal
04/02/2019 , by , in News/Views

Real estate transactions between the Kochhars and the Dhoots of Videocon Group pointed to the quid pro quo arrangement between them, said people with knowledge of the matter.

These were a key element in the report that found former ICICI Bank chief executive ChandaKochhar had violated the lender’s code of conduct by not disclosing conflicts of interest, they said.

ICICI Bank declined to add anything to comments it has already made on the report it commissioned by retired justice BN Srikrishna.

The report said the relationship between the two families was a longstanding one that began before ChandaKochhar became CEO of ICICI Bank in 2009. The Kochhars’ residence at CCI Chambers, opposite the Cricket Club of India in south Mumbai, is said to have been bought from the Videocon Group in a complex transaction in the mid-1990s.

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