Gold Silver Reports (GSR) – Chanda Kochhar Was On Committee That Approved Loan To Videocon Group, Says MK Sharma — MK Sharma said that CEO Chanda Kochhar was not the chairperson of the committee that sanctioned the loan to Videocon Group. He added that the bank did not see any conflict of interest and that Kochhar has been making all disclosures in accordance with regulations.
Key points he made…
✅ Chanda Kochhar was part of the credit committee that approved loan to Videocon Group.
✅ The board does not see conflict of interest as Videocon Group was not an investor in Nupower.
✅ Board saw no need for her to recuse herself.
✅ The loan was part of the consortium arrangement.
✅ She has been making all her disclosures in accordance with regulatory guidelines
✅ We have satisfactorily replied to all regulatory questions. This is part of regular activity. As it is privileged information we cannot share it.
✅ The company will not share any specific details regarding communication with regulators.
Read More : Regarding Additional Disclosures By Chanda Kochhar
