SEBI Waiting For Reply from ICICI Bank on Kochhar Issue
On Thursday, the Chairman of SEBI, Ajay Tyagi has stated that the regulator is yet to receive reply from the ICICI Bank on allegations involving its CEO Chanda Kochhar. Apart from SEBI, there are several other agencies that are looking into alleged lapses involving Kochhar and her family members.
CBI is also in queue to receive response regarding this issue with respect to loans extended by the lender to certain entities, including the Videocon group. In a meeting, the Chairman stated that they are yet to receive reply from the ICICI Bank.
It is said that the cases under scanner include the bank’s Rs 3,250 crore loan to Videocon Group in 2012. Chanda Kochhar is involved with her family members in restructuring of the loan.
The CEO of ICICI Bank, and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities. AT the beginning of this week, ICICI Bank announced that Kochhar has decided to go on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon and named Sandeep Bakhshi as the chief operating officer.