Latest news with #Kochhar
Indian Express
3 days ago
- Health
- Indian Express
World Hepatitis Day: Person with hepatitis B can spread the infection through blood, other body fluids
'Hepatitis often progresses silently and may only be detected once severe damage like cirrhosis or liver failure sets in. Timely testing is critical to prevent long-term complications,' Dr Rakesh Kochhar, former head, Gastroenterology Department, PGIMER, said. Ahead of the World Hepatitis Day on Monday, Kochhar said that the condition is caused by viruses such as hepatitis B and C, alcohol use, long-term medication, or metabolic disorders, and is increasingly becoming a public health concern in India. The expert cautioned against the rising number of cases linked to some herbal and ayurvedic supplements. According to the World Health Organisation's (WHO's) 2024 report, India has the highest global burden of viral hepatitis, with nearly 40 million people living with chronic hepatitis B and 6–12 million with hepatitis C, yet testing and treatment remain limited. Dr Sumeet Kainth, senior consultant, gastroenterology and hepatology, at Livasa Hospital Mohali said that Hepatitis B and C continue to silently damage the liver in many individuals, often without noticeable symptoms until the disease has significantly progressed. In addition, alcohol consumption and non-alcoholic fatty liver disease remain the major contributors to liver damage in India. Without diagnosis and treatment, individuals remain unaware and continue to progress towards severe liver disease or cancer, and so testing, treating, vaccinating, and integrating services into primary health systems are essential. This includes ensuring birth‑dose vaccination for hepatitis B, expanding screening for high‑risk groups, providing affordable curative treatment for hepatitis C virus (HCV), and offering antivirals and prophylaxis to prevent hepatitis C virus (HBV) transmission. Dr Sunil Tanjea, associate professor, Department of Hepatology, PGIMER, Chandigarh, said that a person who has acute or chronic hepatitis B can spread the infection to other people through his/her blood and other body fluids or by sexual contact. 'The risk of exposure to hepatitis B is through unprotected sex, tattoos, piercings, pedicures, manicures or medical procedures with improperly sterilised equipment, sharing personal hygiene items with an infected person e.g. razors, toothbrushes, nail clippers. For chronic hepatitis B, antiviral medicines have been approved for treatment. These treatments do not provide a complete cure, but they offer control of the virus so that further damage to your liver can be prevented. There is a safe and effective vaccine that can protect against hepatitis B. The vaccine is usually given in three doses over six months. It gives long-lasting protection and can be given at birth,' Taneja added. Dr Arvind Sahni, director, gastroenterology and hepatology, Fortis Hospital, Mohali, said, unlike viral hepatitis, autoimmune hepatitis (AIH) is caused by the body's immune system attacking liver cells. The disease is more common in women, though it affects males too, with peak incidence seen in childhood, adolescence, and adults aged 40-60. 'AIH often goes undetected, and nearly one-third of patients are already in advanced stages of liver disease at diagnosis. Patients may experience fatigue, jaundice, swelling of the legs, abdominal fluid build-up, gastrointestinal bleeding, menstrual irregularities, and neurological symptoms. Enlarged liver is also common,' said Sahni. Autoimmune hepatitis, he added, needs lifelong immunosuppressive treatment, which includes steroids and azathioprine. 'Recently, Mycophenolate Mofetil (MMF), a new drug, has been approved as a first-line treatment for autoimmune hepatitis. MMF is more effective and better tolerated than traditional drugs, though it is contraindicated during pregnancy,' the doctor said. 'Among the five types of hepatitis B and C pose the highest risk of cirrhosis and liver cancer if not diagnosed and treated early,' Dr Mukesh K Rathore, principal consultant gastroenterology at Max Hospital, Mohali, said. In addition, alcohol consumption and non-alcoholic fatty liver disease remain the major contributors to liver damage. Vaccination remains our strongest defence against hepatitis A and B, Rathore stressed. With the availability of highly effective antiviral medications, hepatitis C is now curable in most cases. Unfortunately, many individuals remain unaware that they may be living with chronic hepatitis. 'Early detection and timely treatment can prevent complications like liver failure and cancer. Adopting a balanced diet, staying physically active, and avoiding alcohol and tobacco are crucial to preventing liver-related complications,' Rathore suggested.
Time of India
23-07-2025
- Business
- Time of India
‘Work hard. Don't take shortcuts': Chanda Kochhar's letter to daughter about honesty goes viral as she gets convicted in ₹64 crore bribery case
Chanda Kochhar, former ICICI Bank CEO, has been found guilty of accepting a ₹64 crore bribe in exchange for sanctioning a ₹300 crore loan to Videocon Group in 2009. The PMLA Appellate Tribunal overturned an earlier clean chit and upheld the ED's asset attachments, ruling that the money was 'proceeds of crime'. The case hinges on a 2009 loan from ICICI Bank to Videocon, followed by a ₹64 crore transfer from a Videocon-linked firm to NuPower Renewables , a company run by Kochhar's husband, Deepak Kochhar . Explore courses from Top Institutes in Please select course: Select a Course Category PGDM Finance Data Science Digital Marketing Technology CXO MCA Operations Management Management MBA Healthcare others Design Thinking Data Science Degree Project Management Public Policy Artificial Intelligence Product Management healthcare Others Data Analytics Leadership Cybersecurity Skills you'll gain: Financial Analysis & Decision Making Quantitative & Analytical Skills Organizational Management & Leadership Innovation & Entrepreneurship Duration: 24 Months IMI Delhi Post Graduate Diploma in Management (Online) Starts on Sep 1, 2024 Get Details The tribunal called it a clear quid pro quo. It also flagged Kochhar's failure to disclose her conflict of interest while being on the loan-sanctioning committee. Assets under ED attachment include a flat transferred for ₹11 lakh to a trust linked to Deepak Kochhar, despite being purchased earlier by a Videocon-related firm for ₹3.25 crore. The tribunal said earlier authorities ignored key facts, calling their order 'perverse'. Live Events The ED's case, along with a CBI FIR for conspiracy and cheating, is now set to proceed in trial court. The Supreme Court has also issued notices on the Kochhars' bail. A letter Kochhar wrote in 2016 to her daughter, encouraging honesty and fair play, has resurfaced, now seen in sharp contrast to the tribunal's findings. Chanda Kochhar's letter from 2016 resurfaces In the middle of all this, a letter Chanda Kochhar wrote to her daughter Aarti back in 2016, as published by NDTV has gone viral again. It paints a picture of values and resilience, one that now reads very differently, given the circumstances. Here's the full text: Dear Aarti, As I sat in the plane from London to Mumbai, I realised that you will be graduating from your management school in a few days. And that you will be coming back to India to pursue your career and build your life. I want to share with you some lessons that I have learnt in life, and I hope that these will help you as you embark on your own beautiful journey. 1. When you grow up, become financially independent. You must be able to take your own calls, and the only way to do that is to be financially independent. 2. Do not let your gender define you. I grew up in a time when career options for women were considered limited. I chose to study management because my mother encouraged me. She told me I could pursue whatever career I wanted. So I did. 3. Don't take shortcuts. Never lose sight of what is right. Because whatever you do, wherever you go, your values will eventually catch up with you. 4. Be kind. No matter what. People may not always be nice to you. But you have a choice to rise above that and be kind in return. It leaves you lighter. Happier. 5. Work hard. You will never regret working hard. Yes, you may get tired. But you will never feel bitter or resentful. 6. Find balance. There is no formula for it. You will need to create your own equation between work, relationships and yourself. But remember that balance is not a luxury. It is a necessity. 7. Remember that happiness is a journey, not a destination. Don't postpone your happiness. Live in the moment. Take time to appreciate the little joys of life. As you start this new chapter of your life, I want you to know that you are never alone. I will always be there for you. Love always, Mumma What was the alleged deal: Loan first, kickback next day In August 2009, ICICI Bank sanctioned a ₹300 crore loan to Videocon International. The very next day, ₹64 crore was transferred from Supreme Energy, a Videocon-linked firm, to NuPower Renewables — run by Kochhar's husband, Deepak. That timing is what raised red flags. The ED and CBI flagged it as a kickback disguised as investment. The tribunal agreed. Kochhar sat on the bank's credit committee that cleared the loan, never disclosed her husband's ties to the borrower, and flagged the proposal as 'urgent'. All of it breached ICICI's own policies. The tribunal called this concealment deliberate and criminal. South Mumbai flat for ₹11 lakh? In 2016, a flat in Mumbai's CCI Chambers — originally bought by a Videocon firm for ₹3.25 crore — was transferred to a Kochhar family trust for just ₹11 lakh. The tribunal called it 'proceeds of crime', not a property deal. Deepak Kochhar's ownership web The Kochhars had claimed that NuPower had changed ownership. But the tribunal found that Deepak Kochhar remained in control the entire time, indirectly holding over 95% of it through layered firms. Statements from Videocon's Venugopal Dhoot backed that finding. Timeline of events 2009: Loan sanctioned. ₹64 crore transferred next day. 2016–18: Whistleblower complaints. Media reports. CBI probe begins. 2019: FIR filed against the Kochhars and Dhoot. 2022: All three arrested, then released on interim bail. 2025: Tribunal rules Kochhar guilty. The 2020 ruling had dismissed the ED's attachment of Kochhar assets. The tribunal now calls that decision 'perverse' and factually wrong. Key evidence like Dhoot's testimony and transaction timing had been ignored. The case will proceed to trial. Meanwhile, the Supreme Court has issued notices to the Kochhars in response to the CBI's petition to cancel their bail. With this ruling, the legal tide has turned.
New Indian Express
22-07-2025
- Business
- New Indian Express
Chanda Kochhar found guilty of accepting a Rs 64 crore bribe in ICICI-Videocon loan case
CHENNAI: In a significant development in the ICICI Bank–Videocon loan case, the Appellate Tribunal under the Smugglers and Foreign Exchange Manipulators (Forfeiture of Property) Act (SAFEMA) has found former ICICI Bank CEO Chanda Kochhar guilty of accepting a Rs 64 crore bribe in exchange for sanctioning a ₹300 crore loan to the Videocon Group in 2009. The tribunal, according to reports, in its order dated July 3, 2025, established that the payment was a clear quid pro quo, linking the disbursement of the loan to benefits received by Kochhar's husband through his firm, NuPower Renewables Pvt Ltd. The tribunal overturned a previous order issued by the adjudicating authority under the Prevention of Money Laundering Act (PMLA), which had in November 2020 ordered the release of assets worth Rs 78 crore belonging to Kochhar. The latest ruling described the earlier decision as flawed, stating that it was based on 'irrelevant considerations' and had 'ignored material facts.' According to the tribunal's findings, the ₹64 crore was routed through Supreme Energy Pvt Ltd into NuPower, a company owned and controlled by Deepak Kochhar, Chanda Kochhar's husband. Though NuPower was initially held in the name of Videocon Group promoter Venugopal Dhoot, the tribunal accepted Dhoot's recorded PMLA statement that it was Deepak Kochhar who maintained full control over the entity. The fund transfer took place just one day after the Rs 300 crore loan was disbursed to Videocon International Electronics Ltd.
Time of India
22-07-2025
- Business
- Time of India
Chanda Kochhar: How she broke the glass ceiling, and then the law
Chanda Kochhar 's rise from a young management trainee to one of the most powerful figures in global finance was nothing short of extraordinary. She shattered gender barriers, spearheaded major banking transformations, and won some of the highest national and international honors -- only to fall from grace amidst allegations of corruption and conflict of interest. With the appellate tribunal's ruling on July 3, finding her guilty of receiving a Rs 64 crore bribe in exchange for a Rs 300 crore loan to the Videocon Group , Kochhar's legacy has now been formally and publicly stained. Her spectacular ascent, her transformative leadership at ICICI Bank , the global recognition she earned, were all erased by her ethical breach. Explore courses from Top Institutes in Please select course: Select a Course Category Design Thinking Technology healthcare MCA Management Operations Management Others Cybersecurity others CXO Project Management MBA Data Analytics Finance Artificial Intelligence Leadership Healthcare Product Management Digital Marketing Data Science Public Policy PGDM Data Science Degree Skills you'll gain: Duration: 22 Weeks IIM Indore CERT-IIMI DTAI Async India Starts on undefined Get Details Skills you'll gain: Duration: 25 Weeks IIM Kozhikode CERT-IIMK PCP DTIM Async India Starts on undefined Get Details From middle-class girl to the queen of Indian banking by Taboola by Taboola Sponsored Links Sponsored Links Promoted Links Promoted Links You May Like Malaysia: New Container Houses (Prices May Surprise You) Container House | Search ads Search Now Undo Born in 1961 in Jodhpur and raised in Mumbai, Chanda Kochhar's early life was shaped by resilience. Following the early demise of her father, she was raised by her mother and went on to graduate in Economics from Jai Hind College. She later completed her MBA from the prestigious Jamnalal Bajaj Institute of Management Studies, where she stood out for her analytical ability and focus. In 1984, she joined ICICI (then a development financial institution) as a management trainee. In an era when few women occupied meaningful positions in banking, her entry marked the beginning of a pioneering journey. Also Read: A ₹3,250 cr loan, ₹64 cr bribe & ICICI's top banker's alleged role in it Live Events Kochhar's rise within ICICI was swift and steady, aided by her relentless work ethic and deep understanding of credit, risk and project finance. A major turning point came in the 1990s, when KV Kamath, then CEO of ICICI, recognized her potential and brought her into the core team driving the organization's transformation from a developmental finance agency to a full-fledged bank. She was given charge of the fledgling retail business in 2000, just as ICICI was transitioning into a commercial bank. Under her leadership, ICICI's retail banking arm grew exponentially. She built an aggressive retail lending portfolio -- home loans, car loans and personal finance -- that helped ICICI become a household name in India's expanding middle class. Kochhar not only handled product and credit innovation, but also developed risk models that made retail lending scalable. By the time she took over as MD & CEO of ICICI Bank in 2009, following Kamath's retirement, Kochhar had already emerged as one of the most recognizable names in Indian finance. Her elevation marked a historic moment --- she was among the first women to head a major private bank. Her leadership coincided with turbulent times. The global financial crisis of 2008–09 had shattered investor confidence, and ICICI was facing rumors of insolvency. Kochhar stepped into the role during a storm and her calm yet decisive leadership played a pivotal role in steering ICICI Bank out of it. Also Read: Ex ICICI Bank CEO Chanda Kochhar held guilty of Rs 64-crore bribe in Rs 300-crore loan sanction to Videocon Kochhar handled professional crises with ease and deftness. As the bank's retail head, Kochhar was part of the team that had to deal with a run on the bank in 2003 that began in Gujarat following rumours of liquidity crisis. After taking charge as joint managing director during the global financial crisis, she had to again battle a near-run on the bank caused by rumours. When in 2009 she took charge of the bank at the age of 48, becoming the youngest CEO to do so, a large chunk of the senior management exited. Kochhar was unruffled and drew up a post-crisis strategy, with the focus on 4Cs (Cost, Credit, Current and savings account, and Capital). The clearly articulated strategy was a success and the bank was again on a high growth path. She focused on strengthening the balance sheet by cutting exposure to risky sectors, consolidating the bank's retail portfolio while reducing NPAs and investing heavily in technology, laying the groundwork for ICICI's digital banking evolution. Over the next few years, she would face further macroeconomic headwinds: the rupee crisis in 2013, rising bad loans in the banking sector, and regulatory tightening by the RBI . Yet ICICI Bank under her leadership remained resilient and competitive. Her achievements brought her a shower of accolades including Padma Bhushan in 2011, one of India's highest civilian honors. She was named in Forbes' 'World's 100 Most Powerful Women' multiple times and featured in Time magazine's list of 100 Most Influential People in 2015. She was recognized as one of the most powerful business leaders in Asia. For nearly a decade, she was not just the face of ICICI Bank, but a global ambassador for Indian banking and women's leadership. Kochhar's skill of time management has seen her through difficulties. According to a TOI report, insiders say that one of the reasons why she has been able to carry on even in difficult circumstances was that she always maintained a tight schedule, budgeting even the time during her car ride for telephonic engagements. Time management was an art that she had mastered when her children were growing up, ensuring that she managed to leave office around 6pm even as she continued to work out of her car. The family-first approach has continued even after she became CEO, squeezing in a lunch meeting with her husband or working out of the ICICI Securities office at Backbay in south Mumbai, a few hundred meters from her home, when a family member was unwell. Kochhar leaves a conflicting legacy Despite the sheen of global success, by 2016, whispers of conflict of interest began to surface. In 2018, a whistleblower complaint accused Kochhar of granting undue favors to the Videocon Group in the form of a Rs 300 crore loan, part of a larger consortium deal. What made it scandalous was the claim that her husband, Deepak Kochhar, had financially benefited shortly thereafter through his company, NuPower Renewables, which allegedly received Rs 64 crore from a firm linked to Videocon. An internal probe was launched, and despite her denial of any wrongdoing, Kochhar went on leave and then resigned from ICICI Bank in October 2018. The investigations by the CBI and later the Enforcement Directorate uncovered a web of shell companies and related-party transactions. In 2023, she and her husband were arrested and formally charged. The case became a national sensation -- not just for the alleged crime, but for the magnitude of the betrayal by someone once seen as the epitome of ethical banking. On July 3, 2025, the appellate tribunal confirmed the findings: the transaction was a 'clear case of quid pro quo,' facilitated through her husband's company to benefit personally from her position at ICICI. Kochhar's story is now one of duality. On one hand, she was a woman who defied patriarchal ceilings, modernised Indian banking, and earned the admiration of millions. On the other, she allowed personal interests to compromise professional integrity at the highest level. The arc of Kochhar's life mirrors both the promise and peril of modern capitalism in India. She represented what the new India could achieve -- ambitious, competent and global in outlook. But she also revealed how power, if unhinged from ethics, can erode organisations. As Indian banking moves forward, Kochhar's legacy will stand as both inspiration as well as indictment.
&w=3840&q=100)
Business Standard
22-07-2025
- Business
- Business Standard
Chanda Kochhar found guilty in ₹64 cr bribe case linked to Videocon loan
An appellate tribunal in New Delhi has ruled that former ICICI Bank CEO Chanda Kochhar was involved in a quid pro quo arrangement involving a ₹64 crore bribe linked to the sanctioning of a ₹300 crore loan to the Videocon Group, according to a report by The Times of India. The detailed order, dated July 3, backs the Enforcement Directorate's (ED) claims that Kochhar misused her position at the bank and violated disclosure norms. The tribunal found that the bribe was routed from Videocon's entity SEPL to NuPower Renewables Pvt Ltd, a company controlled by Kochhar's husband Deepak Kochhar, just a day after the loan disbursement. The order noted that although NuPower Renewables Pvt Ltd (NRPL) was shown on paper as being owned by Videocon Chairman Venugopal Dhoot, the actual control rested with Deepak Kochhar, who was also its managing director. The tribunal said, 'The allegation made by the appellants stands because on paper ownership of NRPL is shown to be of VN Dhoot... but the entire control of the company was of Deepak Kochhar.' It added that statements recorded under Section 50 of the PMLA Act were valid and admissible, offering direct evidence of the quid pro quo arrangement, the news report said. ED's asset attachments justified, says tribunal The tribunal also criticised the adjudicating authority's earlier decision in November 2020, which had favoured the Kochhars and ordered the release of assets worth ₹78 crore. Calling that decision flawed, the tribunal said, 'The adjudicating authority has ignored the material facts... we cannot endorse the finding... Thus, we find substance in the allegation of the appellants.' The tribunal said that the loan was sanctioned despite clear conflicts of interest and in violation of ICICI Bank's internal policies, as Kochhar was part of the loan sanctioning committee. A major point of contention was the timing of the ₹64 crore transfer from SEPL to NRPL. The tribunal said, 'The issue remains about the transfer of ₹64 crore by Videocon group... to NRPL the day after the disbursement of the loan.' This detail, according to the tribunal, strongly supported the ED's claim that the money was a bribe in exchange for sanctioning the loan, the The Times of India report mentioned. Deepak Parekh recalls merger proposal from Kochhar In June this year, former HDFC Chairman Deepak Parekh revealed that Chanda Kochhar had once suggested a merger between HDFC and ICICI Bank, long before HDFC's eventual merger with its banking arm in 2023. During a conversation on Kochhar's YouTube channel, Parekh recalled: 'You said that ICICI started HDFC. 'Why don't you come back home?' That was your offer.' Parekh said he declined the proposal, calling it inappropriate at the time. 'It would not have been fair or proper with our name and the bank and all.' He added that the 2023 HDFC-HDFC Bank merger came about largely due to regulatory pressure. With HDFC's asset size crossing ₹5 trillion, the RBI classified it as systemically important, prompting the merger. 'RBI supported us... but there were no concessions, no relief, no time, nothing,' Parekh said.
