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Sebi added ICICI sought consent mechanism, which allows wrongdoers to settle pending matters without accepting or denying guilt.
ICICI Bank and the business dealings of the Kochhar family has come under the regulatory lens of Sebi and other agencies.
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.
SBI was bound by protocol to pass the resolution and re-appoint Kochhar as a director on the board of ICICI Securities during Thursday’s AGM.
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.
In a shocking case, criminals broke open cash chests of two ICICI Bank ATMs and decamped with `13 lakh in cash.
ICICI Bank was the top gainer in the Sensex pack, surging 4.64 per cent, followed by Axis Bank at 3.86 per cent and SBI 2.53 per cent.
Even as huge bad loans continue to dent profits, ICICI Bank is certainly in a sweet spot on the retail business.
ICICI Bank on Wednesday confirmed that the US Securities Exchange Commission’s (SEC) information requests regarding the private lender’s loan impairment provisions.
As the controversy grabbed headlines, the board had in early June asked Kochhar to proceed on leave till an external enquiry panel headed by retired Supreme Court judge BN Srikrishna was complete.