New Delhi: ICICI Bank’s internal enquiry into the Videocon loan controversy, and specifically the actions taken by Chanda Kochhar from 2009 to 2018, has found the former boss of being in violation of the institution’s code of conduct.According to a statement put out by the board of directors, Kochhar’s exit from the bank late last year will now be treated as a “termination for cause”, which will now include the revocation of all her existing and future entitlements as well as the “clawback of all bonuses paid from April 2009 until March 2018”.The internal probe was constituted in May 2018 and was headed by Justice (retd) B.N Srikrishna. Its mandate was to “undertake a comprehensive enquiry on allegations against Ms Chanda Kochhar”.Also read: CBI Officer on Chanda Kochhar Case Transferred a Day After Filing FIR“The enquiry report, with the scope period of April 1, 2009 to March 31, 2018 (unless specific information required enquiry into transactions or facts of an earlier period), concluded, primarily on account of ineffectively dealing with conflict of interest and due disclosure or recusal requirements, that Ms Chanda Kochhar was in violation of the ICICI Bank Code of Conduct, its framework for dealing with conflict of interest and fiduciary duties, and in terms of applicable Indian laws, rules and regulations,” the statement notes.“The enquiry report also concluded that her lack of diligence with respect to annual disclosures as required by the Bank in terms of its internal policies, the ICICI Bank Code of Conduct and applicable Indian laws, rules and regulations on her interests (direct or indirect) towards avoidance of conflict of interest, when considered that the Bank’s processes were dependent solely on the directors discharging their fiduciary duty to recuse themselves and avoid conflict, implies that the Bank’s processes were rendered ineffective by her approach to such disclosures and avoidance of conflict,” it added.