ICICI-Videocon loan row: Lok Ranjan, government's nominee on bank board, transferred to Dept of Personnel

New Delhi: Senior bureaucrat Lok Ranjan, who is the central government's nominee on the board of ICICI Bank, was today transferred to personnel ministry.

His transfer comes a month after he was appointed on the board of the bank whose Managing Director and Chief Executive Officer Chanda Kochhar is facing allegations of conflict of interest in sanctioning of loan to Videocon group.

Ranjan, a 1989 batch IAS officer of Tripura cadre, is at present Joint Secretary in the Department of Financial Services.

He has been appointed as Joint Secretary in the Department of Personnel and Training, an official order said, without citing further details.

ICICI Bank. Representational image. AFP.

ICICI Bank. Representational image. AFP.

Ranjan was appointed the government's nominee of the bank effective April 5, 2018, according to the ICICI bank's website.

The bureaucrat had on Monday skipped board meeting of the ICICI Bank.

The CBI has registered a preliminary enquiry against Videocon founder Venugopal Dhoot and Deepak Kochhar, husband of Chanda Kochhar, and unidentified others.

The probe agency had questioned a few ICICI bank officials as part of its enquiry to find out if any quid pro quo was involved in the bank issuing a Rs 3,250 crore loan to the Videocon group in 2012.

The CBI had last month questioned Rajeev Kochhar, Chanda Kochhar's brother-in-law in connection with its enquiry.

Updated Date: May 11, 2018 09:31 AM

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