Chanda Kochhar has been reappointed as a director on the board of ICICI Securities with ICICI Bank, which has a 79.22% stake in the broking and investment banking entity, voting in favour of the reappointment.
While people familiar with the development confirmed her reappointment, the voting results would be announced in a day or two.
Ms. Kochhar, who is in the midst of a probe by ICICI Bank and other regulatory agencies, was seeking reappointment as a director on the board of which she has been a part since October 2008. Ms. Kochhar, who is currently on leave, is facing conflict of interest allegations, with ICICI Bank setting up a panel under former Supreme Court judge B.N. Srikrishna to look into the matter.
Separately, the SEBI and the CBI are conducting inquiries into the matter involving the Videocon group and NuPower Renewables, a firm run by Ms. Kochhar’s husband Deepak Kochhar.
