Videocon loan controversy: Twitterati asks if ICICI Bank knew anything at all about 'business house of Kochhar'

Chanda Kochhar, Managing Director and CEO of ICICI Bank, is in the eye of the storm following the Videocon loan controversy. But the bank’s chairman MK Sharma has given her a clean chit and has said that the lender’s board is unlikely to discuss allegations of impropriety against Kochhar at a meeting scheduled for 27 April, the Mint reported .

Kochhar, widely recognised for her role in shaping retail banking in India, has been a recipient of many awards. On Twitter, Kochhar and her family including husband Deepak and brother-in-law Rajiv, were hauled over the coals for their alleged role in the controversy.

Twitterati was puzzled and amazed that the ICICI board allowed Chanda Kochhar to remain on the credit committee and also the risk monitoring committee. Incidentally, this was also the argument put forth by whistleblower Arvind Gupta.

In an interview to the Mint in 2014, Rajiv Kochhar said that as an investment banker one must know one’s limit. Words that have come back to haunt him, perhaps.

Some wondered if this controversy would bring down the curtains on Chanda Kochhar’s ‘success’ story as a banker.

There were some who expressed their disbelief at what Deepak Kochhar said in a televised interview.

Last but not the least,  a question was raised on whether private lender ICICI Bank should be ‘double privatised’.