The media report on Ms Chanda Kochhar’s appointment as Director on the board of ICICI Securities, has sent shock waves among civil services,public and private sector . An attempt has been made to legitimize a patent illegality.

Chanda Kochhar as CEO & MD of ICICI, sanctioned a loan of Rs 3,250 crores to a family friend Dhoot of Videocon group and Nupower in which Deepak Kochhar, her spouse, had economic interests. Though widely known in banking sector, why did she suppress her kinship with 

Deepak Kochhar,the ultimate beneficiary of the secret deal.  What were the roles of internal  and statutary auditors of ICICI ?

How could representatives of Finance ministry and the RBI permit the illegal resolution  to be passed at ICICI Board's meeting in violation of established rules ? It is understood that they have not even been show-caused for failing to observe due diligence.Public is enraged.This 

raises suspicion in public mind. And,justifiably too.

This is an open and shut case.Quid pro quo is clearly established.No rocket science is needed to probe into whistle blower’s allegations.

The public was promised zero tolerance to corruption and ethical values in providing Good governance ? Besides hitting the credibility of the ruling dispensation, lack of action against Ms Chanda Kochhar accused of financial shenanigans, has sent wrong signals across the 

country,creating a crisis of confidence.Nation wants to know the truth.

PM Modi is urged to take the call in public interest.


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About A.K.Saxena

A K SAXENA, an Indian national, is a retired civil servant from Government of India He is also a freelance journalist with several published investigative articles and columns in various fields to his credit. His writings are a reflection of his interest in writing on divergent themes and making the topics relevant to a wider audience. A post graduate in Chemistry from University of Delhi,he could not sustain his interest in pursuing research and instead chose to enter the government service through the IAS etc exam held by the UPSC. “KALASAVYA” that brought out several publications besides organizing cultural shows.

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