The Rise and Fall of Chanda Kochhar |
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EXCERPTS |
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| Gupta, who was an investor in Videocon Group as well as ICICI Bank, researched NRPL, a company promoted by Deepak in 2010 by examining all the data available in public documents and filings with the Registrar of Companies. A series of transactions caught his attention and were detailed in the letter to the concerned authorities in 2016. .. |
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PayPal (5 USD)
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| Nearly a year and a half later after the initial complaint by Gupta, The Indian Express investigated Gupta’s blog post and reported its findings on March 29, 2018. The details stated that in December 2008, Dhoot had set up a company named NRPL with Deepak, given an INR640 million loan to NRPL through a fully owned entity Supreme, and taken over a majority of NRPL’s shares which he transferred to his associate Mahesh Chandra Punglia (Punglia)... |
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| Following a SEBI directive to the ICICI Board to seek a formal letter from Deepak detailing his dealings with the Videocon Group, Deepak wrote to the Board in April 2018 acknowledging his relationship with the Videocon Group. The letter, which ran contrary to Kochhar’s assertions, forced the Board to confront her and revisit her disclosures under the bank’s code of conduct rules... |
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| Kochhar moved the Bombay High Court against ICICI Bank at the beginning of December 2019 for terminating her when the bank had accepted her request for an early retirement. In her petition, Kochhar challenged the ‘purported termination’ and denial of the agreed remuneration. She described her termination as untenable, illegal, and unsustainable in law, and sought the court’s intervention.. |
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Exhibit I:Kochhar’s Achievements
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