Chanda Kocchar – A case history

Dear Corporate Leaders,

Recently you might have noticed about attachments of Chanda Kocchar’s properties by ED. 

She is Cost Accountant and done her Management from a prestigious college in Mumbai and was Gold Medallist. She started her career with ICICI in 1984 as Management Trainee. She was key instrumental in establishing the ICICI bank. In 2009 she was appointment as CEO and MD. In 2011, Kochhar was awarded the "ABLF Woman of Power Award (India)" at the Asian Business Leadership Forum Awards. Kochhar was ranked as the most powerful businesswoman in India in Forbes' list of 'The World's 100 Most Powerful Women 2013'. In 2018 she was forced to take early retirement from services.

Being a person of international repute and ideal management professional why she was forced to retire? One story you might have read that she has approved loan to Head of Videocon Group Mr Dhoot who invested such money in NuPower Renewables, a company owned by her husband. Loan was not repaid so this matter came into scanner and now result is in front of us.

Now let us discuss about what went wrong actually? This is not exactly a case of bad loan.

This is a case of-

1    Giving importance to material objects over her duty.

2    Breaching the trust intrusted by promoters and directors.

3    Giving due importance to self-interest over the interest of her employer.

4      Promoting self-benefit at the cost of the employer.

5    Most important reason is “Not observing the practice of ceiling on desire” taught by our Guru’s.

Friends, we also work in corporates. If we try to learn from our mistakes even then we will find our life span very short and we will not be able to improve ourselves.  So we need to learn from these instances too and put a ceiling on our desires. There is no harm  in chasing our dream but we should do it in right way. We invest our whole life in making it meaningful but a small scratch makes a dent on it forever. So let’s control our mind which forces us to follow our senses. Rather direct it towards our heart which will guide us for right conduct. Be assured that law of karma do spare anyone and all of us have to face it.

Best Wishes for an enlightened leadership.

A must read article on ceiling on desire- Chanda-kochar-case-history.html