ICICI Bank fraud case ICICI board to be divided over CEO Chanda Kochhar

The board of India’s ICICI bank, which less than two weeks earlier expressed full faith in Chief Executive Officer Chanda Kochhar, is divided over whether to ask her to step down as federal authorities. Investigate allegations of impropriety over loans made to Videocon group, people with knowledge of the matter said. At least some outside directors are opposed to Kochhar continuing in her role. The board may meet as early as this week to consider its next course of action. The moves comes after the Axis bank board, under the direction of the RBI, ended up cutting short the CEO and MD Shikha Sharma's tenure to just 7 months.