• search
For Quick Alerts
For Daily Alerts

Chanda Kochhar, Shikha Sharma and Aditya Puri's year-ender bonus delayed

By Vikas

The year-ender bonus of Chanda Kochhar, who is at the centre of the controversy over ICICI bank's loan to Videocon group, has reportedly been delayed. A Bloomberg report said that the RBI has not cleared the proposal for the payment of bonuses to Kochhar, ICICI bank's MD and CEO, and Axis Bank chief Shikha Sharma.

ICICI banks MD and CEO Chanda Kochhar

ICICI's board had approved a bonus of Rs 2.2 crore for CEO Chanda Kochhar while Axis Bank's Shikha Sharma was set to receive Rs 1.35 crore, said an ET report. HDFC Bank chief Aditya Puri's bonus has also reportedly been delayed.

Kochhar came under scrutiny after reports questioned a loan by ICICI bank to Videocon Group and linked it to a possible quid pro quo that Videocon Group Chairman Venugopal Dhoot allegedly had with NuPower Renewables, a company founded by Deepak Kochchar, Chanda Kochhar's husband. According to reports, Axis bank hadn't disclosed bad loans worth about Rs 5,600 crore.

[Videocon loan case: Chanda Kochhar's brother-in-law Rajiv Kochhar questioned]

Reports have alleged that Videocon chairman Venugopal Dhoot invested Rs 64 crore in Nu Power Renewables, a firm owned by Deepak Kochhar after Videocon secured a loan from a consortium of banks, including ICICI. ICICI, India's third-largest lender, has denied any wrongdoing in the loan, saying it was part of a consortium of lenders that extended the facility to Videocon. It also backed Kochhar saying "there is no question of any quid pro quo/nepotism/conflict of interest as is being alleged in various rumours".

For Daily Alerts
Get Instant News Updates
Notification Settings X
Time Settings
Clear Notification X
Do you want to clear all the notifications from your inbox?
Settings X
We use cookies to ensure that we give you the best experience on our website. This includes cookies from third party social media websites and ad networks. Such third party cookies may track your use on Oneindia sites for better rendering. Our partners use cookies to ensure we show you advertising that is relevant to you. If you continue without changing your settings, we'll assume that you are happy to receive all cookies on Oneindia website. However, you can change your cookie settings at any time. Learn more