Tuesday 22 Jan, 2019

SEBI's notice to Chanda Kochhar

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The Securities Exchange Board of India (SEBI) has issued a notice to Managing Director of ICICI Bank, Chanda Kochhar, in connection with the illegal selling of Rs 3250 crore loan to Videocon Group. A notice was issued on transactions between the bank and Videocon Group.

Officials confirmed that the Managing Director had received a notice. The bank will reply to the notice.

Chanda Kochhar's husband Deepak Kochhar and Videocon Group chairman Venugopal Dhooth are alleged to have invested crops in foreign shell companies. The CBI probe was going on. Continue in MD position in new circumstances.

The bank's board of directors had demanded to remove Chanda Kochhar from the position.

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