Mumbai: Under controversies for lending loan of Rs 3,250 to debt-laden Videocon Group in 2012, the incumbent ICICI CEO and MD Chanda Kochhar will step down as the country leading private bank has started hunt for new interim.
As per available reports the bank has initiated this step as an interim arrangement till Kochhar absolved of all accusations in the probe.
Those whose names are doing the rounds to replace current incumbent as CEO includes Sandeep Bakhshi and Vishakha Mulye. Sandeep Bakhshi, who is among the senior most management, is heading ICICI Prudential Life Insurance. Bakhshi briefly served as deputy MD looking after the retail portfolio and was also one of the contenders for the post of CEO and MD when Chanda Kochhar was elevated.
Name of Vishakha Mulye, the executive director at the bank and head of wholesale banking is also doing rounds. She has served as group CFO under K V Kamath and was groomed along with Chanda Kochhar, Shikha Sharma, Renuka Ramnath and Kalpana Morparia, who were being groomed for the top management. She was also one of the contenders for the post of CEO and MD.
ICICI bank was in the thick of controversy after Chanda Kochhar was accused of quid-pro-quo while sanctioning Rs 3,250 crore loan to debt-laden Videocon Group in 2012.
The group reportedly had a business relationship with her husband Deepak Kochhar.
A probe is already on by the Central Bureau of Investigation and her brother-in-law Rajiv Kochhar, founder, and CEO of Avista Advisory has been already been questioned.