ICICI Bank to treat Chanda Kochhar’s exit as ‘termination for cause’

ICICI Bank Ltd said on Wednesday it would treat former Chief Executive Chanda Kochhar’s exit from the bank as a “termination for cause” after an enquiry report ruled that she had violated internal bank policies. Kochhar resigned in October after being mired in allegations that she favoured Videocon Group, a consumer electronics and oil and gas exploration company, in the bank’s lending practices.