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Corporate governance

Why is Chanda Kocchar case (ICICI) a bad example of corporate governance? Explain in details.

Corporate governance is mechanism in which corporation is managed and controlled taking care of interest of shareholders including investors and employees. ICICI bank-Videocon case is one of the bad example of corporate governance, by going out of standard procedure to favor an entity. Inspite of bad press, ICICI reluctance to remove its CEO and instill confidence among its investors of fair corporate practices, its board kept the CEO and earned media agony.