Chanda Kochhar's troubles increased, ICICI sought back last 12 years incentive and bonus

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New Delhi, January 13, 2020 Monday

The troubles of Chanda Kochhar, former MD and CEO of ICICI Bank, are steadily increasing.

In an affidavit filed on January 10, the bank has sought to dismiss an application filed by Chanda Kochhar.

It is worth mentioning here that Chanda Kochhar filed a petition challenging his dismissal in the money laundering case. The bank argued that a proper decision could be taken as per the commercial case.

The bank wants a 12 year bonus, incentive and salary

An affidavit filed by the bank states that ICICI has filed a case against Klobek for the bonus given to Chanda Kochhar.

Given the coaching that has been offered during the period 2006 to March 2018, Klobeck is a system in which an employee is entitled to receive an incentive based pay and bonus in the post-dismissal status.

It is usually charged with making decisions with regard to employee misconduct or personal interests.

Also accused of securing his own stock option

The affidavit further stated that the image of the bank and all the stake holders was damaged due to the coaching. It also ruined the image of the bank. That they have taken the wrong steps to secure the stock option for themselves.

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