Chanda Kochhar denies guilt after ICICI Bank fires her with retrospective effect

Ten months after giving clean chit to Chief Executive Chanda Kochhar over the Videocon loan, ICICI Bank sacked her on Wednesday with retrospective effect.

The drastic move came after Justice Srikrishna Committee indicted her for violation of bank's code of conduct and conflict of interest duties in the controversial Rs 3,250-crore loan for the Videocon Group.

Reacting to the devlopment, Chanda said that none of the credit decisions at the bank was unilateral and that truth would eventually prevail.

"ICICI is an institution with established robust processes and systems which involve committee-based collective decision-making with several professionals of high calibre participating in the decision-making."

"I am utterly disappointed, hurt and shocked by the decision. I have not been given a copy of the report. I reiterate that none of the credit decisions at the bank is unilateral.cture obviate the possibility of a conflict of interest," she said in a statement.

The core of the allegations against Kochhar is that a part of the 'dirty loan' went to a company run by her husband Deepak Kochhar.