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The ICICI board, which consists of 12 members, is divided on whether Kochhar should be on leave during the internal enquiry ICICI Bank Chairman M K Sharma has written an email to board members seeking their opinion on whether Managing Director (MD) & Chief Executive Officer (CEO)  Chanda Kochhar  should be asked to go on indefinite leave until the internal enquiry is concluded, said people in the know. “ In an email sent to board members last week, Sharma asked board members whether they agreed that Kochhar should go on indefinite leave until the ICICI Bank-constituted enquiry is completed to have a fair outcome,” said one of the persons cited above. Kochhar is on her planned annual leave, the bank had said on June 1. The ICICI Bank board had come out in support of Chanda Kochhar on March 28, quashing allegations of a quid pro quo and favouritism in giving a loan to the Videocon group, which, in turn, had invested in Chanda’s husband Deepak Kochhar’s ...

If things fall in place, then a deal with a major offline retailer might happen by the end of this year, according to a source Amazon might be the most visited shopping site in India, but for Jeff Bezos, the founder and CEO of the technology giant, it is still Day 1 in what may be the second-most important market for the firm outside the US. Bezos, in a letter to customers, said that Amazon now has customers in 100 per cent serviceable pin-codes in the country and is shipping packages from more than 50 fulfillment locations in 13 states. From talking about how Alexa plays devotional songs in local Indian languages to Amazon India working closely with communities in rural areas, Bezos said that the online marketplace has now become part of the country's culture and has adapted all its services and offerings accordingly. Stressing that Amazon India has captured the top spot for the last two years, Bezos pointed out that Amazon is the most visited site in the cou...

The companies may also face censure action by the market watchdog for alleged lapses Sebi will soon take action against some market operators and senior staff members of about a dozen listed blue-chip firms for their alleged involvement in leak of price-sensitive information through WhatsApp. The companies may also face censure action by the market watchdog for alleged lapses in safeguard mechanism to check leak of unpublished price sensitive information (UPSI), including financial results before they were made public for all investors, regulatory sources said. The regulator is close to completing its probe into the matter, including for suspected unlawful gains through insider trading on the basis of leaked information, and is collating the details it had sought from all concerned companies, the officials said. Almost all the companies have replied to Sebi's queries in this regard. According to top officials, the regulator is taking a tough stand on the c...