The board has seven independent directors, including chairman and government nominee director.
In a sudden announcement a few days after the controversy erupted, Ranjan was appointed in the place of Amit Agarwal. Kochhar declined to comment on the allegations in a subsequent conference call with reporters.
A pedestrian walks past a logo of ICICI Bank at its headquarters in Mumbai January 30, 2015. When asked how the whole loan controversy affected her, Kochhar merely smiled and said: "I think a professional must focus on his or her job".
"If government nominee attends the board meet, then it would be like endorsing board's view".
The development comes nearly a month after the tax authority had asked Deepak Kochhar to furnish all the details regarding personal finances, income tax returns for the past many years, and business dealings with NuPower Renewables.
It is alleged that family members Kochhar, including her husband Deepak Kochhar, got financial favours from the borrowers against the loans sanctioned by the bank.
Sharma had asserted that no individual bank employee has the ability to influence decisions of the credit committee.
According to the sources, the Reserve Bank of India (RBI) as powers to inspect the books of ICICI Bank.
The central bank had closed the probe - after ICICI Bank had submitted a detailed response to its queries - as it was unable to find conclusive evidence of any conflict of interest, the industry sources who did not wish to be named said.
It can be noted that the ICICI Bank board had come out with a statement supporting Kochhar on the eve of the news getting out in the media.
He alleged quid pro quo between Videocon Group and ICICI Bank's chief executive officer (CEO) as well as her family members with respect to extending a loan worth Rs 3,250 crore. She sought to highlight the fact that the bank was unaffected by the controversy by pointing out that the bank had added Rs 29,200 crore of current and savings account deposits and that fee income was the highest in four years. "Going forward, ICICI Bank's strategy will be anchored around three key anchors: Preserve, Change, Grow", Kochhar said. The bank's stock was the star performer in today's session, comfortably topping the gainers' list. The company's market cap stood at Rs 1,98,812.96. All this rounds off to 89.66 per cent.
At NSE, shares of the company jumped 8.52 per cent to Rs 314.50.
ICICI's long-serving Chief Executive Chanda Kochhar has also been battling allegations of nepotism in a loan the bank gave to the Videocon conglomerate.
The investments from Ruias son-in-laws firm into NuPower started in December 2010. This loan was later classified as NPA.
Axis Bank posted its first ever quarterly loss last month as its bad loans surged. And finally, Financial Chronicle has raised questions over the last seven days on the jiggery pokery of the Kochhar brothers to further their business interests.
Twitter would stand to benefit more as Snapchat and Instagram are very specific social networks with tailored use-cases. The remaining quarter said that they were using it less recently, had stopped using it or deleted their account.
BP PLC has GBX 675 highest and GBX 505 lowest target. $193.38's average target is -3.33% below currents $200.04 stock price. The stock of DISH Network Corporation (NASDAQ:DISH) has "Sell" rating given on Monday, September 21 by Wunderlich.
Netanyahu said that Israel was "determined to block Iran's aggression against us even if this means a struggle". A two-part plan can help him do that - acting in part with the Europeans and in part on his own.
According to the report , families that are detained for illegal crossings have typically been kept together in the past. The draconian new policy is expected to send a flood of deportation cases - and legal challenges - into federal courts.
Last year's decision by the Trump administration to move the embassy to Jerusalem was harshly criticized by the global community. The global community, including the USA , does not recognise Israel's jurisdiction and ownership of the city.
Back in 2015, protesters ripped the shirts off Air France executives after the company revealed plans to cut thousands of jobs. Shares in Air France fell 14% in early Monday trading, reacting to the latest events at the troubled airline.
Sonam's siblings Rhea and Harshvardhan took to their respective Instagram accounts to express their feelings over her marriage . From Bollywood, megastar Amitabh Bachchan, son Abhishek and daughter Shweta were among the first ones to arrive at the venue.
Considering the Warriors have won 14 straight postseason games, Cook could see extended minutes if this game gets out of hand. Curry scored 23 points as the Warriors bounced back from defeat on Friday night to beat the New Orleans Pelicans 118-92.
Trump didn't identify the source of the information and didn't provide the name of the hospital. "Knives, knives, knives. Can you imagine what it would be like if they had guns? Donald Trump has once again lied about our NHS .
Woods was last paired with Mickelson at The Players in 2001, when the former was mowing down everything in his path. Woods and Mickelson have played in the same group 32 times over 21 tournaments, according to the PGA Tour.
If the fix work doesn't turn to be productive, then the employee has to replace the whole unit, giving the customer a new phone. Apple has claimed that this new Face ID should replace the conventional Touch ID that was introduced with the iPhone 5s.
Living the dream would best describe Sonam's state of mind as she laughed, loved and danced her heart out like nobody's watching. As per a report in a major news daily, Sonam reportedly met Anand through a mutual designer friend, Pernia Qureshi.
Southwest plane struck by pickup truck at Baltimore airport
Southwest Airlines has not released any comment but the company did respond to a tweet from one of the passengers on the plane. Southwest Flight 6263 was arriving from Fort Lauderdale, Florida, a little after 1:30 a.m. when the accident happened.
Elia Viviani wins Stage 2 as Rohan Dennis takes pink
Italy's Elia Viviani sprinted to victory for a second successive day at the Giro d'Italia as the Big Start in Israel concluded. In 2014, the Giro started in Belfast, but this year's opening weekend in Israel is the first time it's been outside of Europe.