Ten months after the board of ICICI Bank declared it reposed "full faith and confidence" in Chanda Kochhar, MD and CEO at the time, and "there was no question of...nepotism, favouritism or quid pro quo", it decided to terminate her services with retrospective effect. It asked her to repay over Rs 10 crore of bonus since April 2009, and said it would revoke her stock options, the current market value of which is around Rs 346 crore (the loss to her would be the difference between the market value and the price at which the options were allotted).
 

Ten months after the board of ICICI Bank declared it reposed "full faith and confidence" in Chanda Kochhar, MD and CEO at the time, and "there was no question of...nepotism, favouritism or quid pro quo", it decided to terminate her services with retrospective effect. It asked her to repay over Rs 10 crore of bonus since April 2009, and said it would revoke her stock options, the current market value of which is around Rs 346 crore (the loss to her would be the difference between the market value and the price at which the options were allotted).