Chanda Kochhar’s brother-in-law advised ICICI borrowers on their foreign loans..Indian Express
Avista Advisory, founded by Rajiv Kochhar, who is the brother-in-law of Chanda Kochhar, got the mandate to restructure foreign currency-denominated debt deals worth over $1.7 billion of seven companies over the last six years.Link to Indian Express
Chanda Kochhar & Shikha Sharma: Two bank bosses in the eye of the storm
As reported in newspaper Indian Express today Avista Advisory, run by Rajiv Kochhar, Chanda Kochhar’s brother-in-law (Deepak Kochhar’s brother) was engaged in restructure of every single deal in respect of big clients like Essar, Jyoti Structurals, Suzzlon etc etc and similarly sanction of loans to big companies were also, as reported , routed through this so called loan syndicator and each loan used to be passed without adequacy of scrutiny. It may be true that Avista used to get some fee for each deal.
There are thousands of Nirav Modi like cheaters inside and outside banks.
It is not a matter whether banks are private or public but it is a matter related to character and culture of human resources who were and who are are in politics or who are sitted on key posts in banks or who are playing key roles in judiciary or in administration or in other relevant agencies.
Now ordeal of Modi government has started and we have to see whether it can get desired success in punishing all guilty persons and in recovery of all dues from defaulting persons and companies. But we have to give adequste time to present government to accomplish this Himalayan task. It is true that the intention of present government is good. They have to explore ways and means to get rid of sins of past three decades.