Why compromised governance in case of ICICI? #BusinessTitBits

The grave lapses of ICICI Bank and the malpractices of its top management have resulted in a huge reputational risk for it, which can be fatal to a banking institution. It is being questioned not just by its institutional shareholders for such mismanagement, but also by the SEC USA. A number of its FII shareholders have sold off their shareholding, not being satisfied with the manner in which the Bank has dealt with these allegations against it and its CEO. The question is why such a compromised governance in this case? Mr Akhilesh Bhargava, Business Editor of HW Business and Finance shares his insights on the matter.