It is matter of grave concern that neither ICICI Board didn't take strong actions against Chanda Kochhar until Srikrishna Panel found her violating lenders code of conduct nor did Reserve Bank take cognizance of the matter. Although from day one there were enough prima-facie evidences suggesting that everything was not as per the norms in ICICI dealings with Videocon. The charges of nepotism, conflict of interest, violation in the lender’s code of conduct and other irregularities were evident and loud from day one.
