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Market regulator SEBI is yet to receive a reply from ICICI Bank on the allegations involving its CEO Chanda Kochhar, Chairman Ajay Tyagi said at a press briefing on Thursday.
Probe by other agencies
Besides the Securities and Exchange Board of India, various other agencies, including the CBI, are looking into alleged lapses involving Kochhar and her family members in relation to loans extended by the bank to entities, including the Videocon group. “We are yet to receive a reply from ICICI Bank,” Tyagi said while briefing reporters after the regulator’s board meeting here.
The cases under the scanner include the bank’s ₹3,250-crore loan to Videocon Group in 2012 and the involvement of Kochhar’s family members in restructuring of the loan. Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities.
On Monday, ICICI Bank announced that Kochhar has decided to go on leave till the completion of an enquiry into the issue and named Sandeep Bakhshi as the Chief Operating Officer.
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