Private lender ICICI Bank has appointed Sandeep Bakhshi as whole time director and Chief Operating Officer (COO), the bank said in a statement to exchanges. Chanda Kochhar to continue as managing director and chief executive officer (CEO) of the bank but will be on leave till the internal inquiry is completed, it added.
BCCL
"In line with the highest levels of governance and corporate standards, Chanda Kochhar has decided to go on leave till the completion of the inquiry as announced on May 30, 2018. The board has noted and accepted this. During her period of leave, the COO (Bakhshi) will report to the Board," the bank stated.?
Bakhshi has been the managing director and CEO of ICICI Prudential Life Insurance Company since August 1, 2010. Prior to this role, he was the deputy managing director of ICICI Bank.
icicifoundation.org
Kochhar, who was made the CEO of ICICI Bank, the second largest private sector lender is facing allegations related to a Rs. 3,250 crore loan granted to the Videocon Group in 2012.
It is alleged that Kochhar's husband Deepak Kochhar and her family members benefited from these dealings. Videocon's Venugopal Dhoot had an investment in NuPower Renewables founded by Mr Kochhar. The bank had then rejected the accusations of nepotism and reposed "full faith" in the managing director.