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ICICI Bank AGM: Shareholders seek clarity on allegations against Chanda Kochhar

ETMarkets.com|
Updated: Sep 12, 2018, 09.22 PM IST
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ICICI Bank AGM: Chanda Kochhar faces ire of shareholders
ICICI Bank AGM: Chanda Kochhar faces ire of shareholders
NEW DELHI: Shareholders of ICICI Bank at the company’s 24th annual general meeting (AGM) on Wednesday questioned veracity of allegations of quid pro quo by CEO Chanda Kochhar and her family members and conflict of interest with respect to a loan extended to certain entities, including the Videocon group.

Kochhar, who is on leave till the completion of an external enquiry into alleged conflict of interest, was not present at the AGM.

“No corruption will be allowed, ET reported ICICI Bank shareholders as saying. They demanded Chanda Kochhar to be “brought to face them"

ICICI Bank’s AGM was earlier scheduled for August 10. But it was postponed by a month due to independent enquiry conducted by Justice B N Srikrishna on alleged cases of impropriety against the bank's CEO.

There were fresh reports that Sebi may soon summon Kochhar and her husband Deepak Kochhar with regard to a probe into alleged regulatory lapses with regard to his business dealings.

Besides, some other top officials of the bank, as also from Videocon, which allegedly benefitted due to its association with Kochhar's husband, are also likely to be called for their personal hearings regarding charges against them that may lead to the bank and its embattled chief being slapped with several crores of rupees in fines and other penal actions including ban from markets and directorships, PTI reported.
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