In a major development, an appellate tribunal has found former ICICI Bank CEO Chanda Kochhar guilty of accepting a ₹64 crore bribe in exchange for approving a ₹300 crore loan to the Videocon Group.
The tribunal observed that the money was funneled to her husband, Deepak Kochhar, through NuPower Renewables — a firm under his control — establishing a clear quid pro quo. The findings point to a serious breach of corporate governance and ethical standards during Kochhar’s tenure as head of one of India’s leading private banks.
The ruling marks a significant step forward in the high-profile case involving conflict of interest, misuse of position, and corruption in the banking sector. Further legal proceedings and enforcement actions are likely to follow based on the tribunal’s verdict.
(This story is published from a syndicated feed)