- Search results for Chanda Kochhar
Sebi added ICICI sought consent mechanism, which allows wrongdoers to settle pending matters without accepting or denying guilt.
Kochhar has been away from office following an enquiry initiated under the retired Supreme Court judge BN Srikrishna late May but continues to hold onto her position as the managing director & CEO.
While Institutional Investor Advisory Services recommend investors to vote against the proposal, another firm Stakeholders Empowerment Services is against the move.
Agencies such as CBI and SEBI are already probing the alleged lapses involving Kochhar and her family members.
It has been alleged that her family members, including her husband Deepak Kochhar, got financial favours from the borrowers against the loans sanctioned by the bank.
Justice B N Srikrishna has been conducting independent enquiry on alleged cases of impropriety against the bank's CEO Chanda Kochhar.
ICICI Bank is under the scanner of various regulatory agencies for alleged conflict of interest involving its CEO Chanda Kochhar and her family members in extending loans to some corporates.
ICICI Bank may face a penalty of up to Rs 25 crore under the relevant SEBI regulations for such lapses, while the fine for Kochhar may go up to Rs 1 crore.
Last month, SEBI initiated adjudication proceedings against the bank and its MD & CEO Chanda Kochhar in the controversial case of loans given to Videocon Group.
The cases under scanner include the bank's Rs 3,250 crore loan to Videocon Group in 2012 and the involvement of Kochhar family members in restructuring of the loan.