TIL Desk/Business/Mumbai/ ICICI Bank’s Managing Director and Chief Executive Officer Chanda Kochhar, facing allegations of conflict of interest and non-adherence to the code of conduct, has denied the charges levelled against her by markets regulator Securities and Exchange Board of India.
In her reply to a show-cause notice issued by Sebi, Chanda Kochhar said she was not aware of the business dealings between husband Deepak Kochhar, promoter of NuPower Renewables, and Videocon group promoter Venugopal Dhoot. Sources said Chanda gave a 30-page reply to Sebi in which she cited several points in her defence.
The regulator will now call Chanda and ICICI Bank’s representatives for a personal hearing as part of adjudication proceedings launched against them. “The interest of the Videocon group directly or indirectly in the company owned/managed by Deepak Kochhar was never brought to the notice of the MD and CEO, since both had their professional life and were bound by respective confidentiality clauses,” she is said to have told Sebi.
