Chanda Kochhar the former CEO of ICICI had been a key person in taking ICICI to one of the biggest levels and however after the scam accusations she lost the credibility and is now been told by the firm to repay the bonus she had been given earlier. Having been made the CEO and MD in 2009 her activities took ICICI to a great position among global banks and Chanda Kochhar was awarded positions in top 100 powerful women of World between 2010 and 2017.
But her involvement in scams in granting loans to Videocon lead to her removal from CEO role and now the company has also ordered her to repay the bonuses and Employee Stock options given to her between 2009 and 2018 and this amounts comes 10 crores along with the ESOP amounts worth 343 crores leading Chanda Kochhar to pay close to 360 crores in total.
Moreover the board has also asked the bank to take steps for "claw back of all bonuses paid from April 2009 until March 2018, and to take such further actions as may be warranted in the matter".
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