Abstract
This research study explores the maligned role of Chanda Kochhar, the top-notch executive of ICICI Bank, a leading multinational and financial service provider. An alleged corruption case was filed against her under the Prevention of Money Laundering Act. The case was filed against her after a whistleblower alleged that the bank had given INR 32.50 billion to Videocon group in 2012, the majority of which was declared as Non- Performing Assets later by the bank. This research study focuses on misused the position for personal gains. It touches upon the board of directors of an organisation's fiduciary role and tries to outline whistleblowers’ importance in corporate governance. The study unravels the conflicts of interest, alleged corruption, lack of disclosures of related party transactions required by corporate governance principles, and quid-pro-quo. The study will deliberate the impact of such alleged corruption on the various stakeholders, especially shareholders. The study is exploratory and qualitative and based on publicly available information. Other corroborative evidence verifies the reliability of the information. This study will offer suggestions to improve the corporate governance principles to the regulators. 
 JEL Classification Codes: D73, D74, G21, G34.
Highlights
Shalini Garg was appointed as a content writer at Finscoop, a start-up in Mumbai that plans to curate content related to India’s financial and economic matters
A Mumbai’s Prevention of Money Laundering Act (PMLA) court called Chanda to appear before the court on February 12, 2021, connected with a money laundering case filed by the ED (Shah, 2021)
A special PMLA court held that it appeared that Chanda had misused her official position in sanctioning loans to Venugopal of Videocon group companies and got personal advantages
Summary
Shalini Garg was appointed as a content writer at Finscoop, a start-up in Mumbai that plans to curate content related to India’s financial and economic matters. Misra had told Garg that they were hoping to increase the awareness of young readers by offering breaking news that would attract eyeballs and open their eyes to some realities of the financial world. While she was brainstorming with her team about the platform’s stories, the team stumbled upon the headlines that were doing rounds. It is one of India's largest retail private banks, and its shares are listed on the Indian stock exchange.
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