EXTERNAL AGENCY MUST PROBE ROLE OF CHANDA KOCHAR
by damodaran mohan (View MyPage) on Mar 30, 2018 03:19 PM | Hide replies
Can the bank CH MK Sharma or the Bank Board simply wash off its hands from such a serious case of conflict of interest involving its CEO Chanda Kochar as if nothing had happened? How can the Bank by itself come to the "conclusion that there is no question of any quid pro quo/nepotism/conflict of interest as is being alleged in various rumours,”.This makes no sense because this has to be established through an independent Inquiry as demanded by propriety and not through self-certification! In fact majority of independent advisory firms, lawyers want it looked into by external agencies like in case of Infosys did earlier. The banking experts do feel the ‘role’ played by Chanda Kochar with her husband having a 'conflict of interest' in sanction of the loan to Videocon can be ascertained objectively only through an independent agency as her disclosures in a case she should have ideally recused herself from by itself need to be looked into. Moreover from corporate governance point of view the issue is a bad optics for the bank for its CEO getting dragged into such controversy. Finally Modi govt’s silence even after PMO was informed in 2016 of UPA time case by a whistleblower is what is worrying.
icici bank is not a govt. bank . if they maintain sebi, and rbi rule and all bank a/c holders and investor not losing their money and fund and getting comfort monetary service . and if the bank capital is ok not run in lose then there is no worry to kochharji because case will be her advantage .