An independent enquiry initiated by ICICI Bank has indicted its former CEO Chanda Kochhar of violation of the bank's code of conduct.
The enquiry report submitted by Justice (Retd) B N Srikrishna Wednesday concluded that there was a lack of diligence with respect to annual disclosures and violation of a code of conduct, on her part.
The board of the bank based on the report has decided to treat her resignation as ‘Termination for Cause’ under the bank's internal policies.
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