MUMBAI: Private sector lender ICICI Bank on Wednesday said it has made up our minds to institute an independent enquiry into the allegations levelled via anonymous whistleblower against managing director and leader executive Chanda Kochhar.
ICICI Bank in a regulatory submitting said the enquiry can be headed via an independent particular person.
The lender’s board has said that its audit committee will take additional movements in the topic. The committee will appoint the head of enquiry, determine the phrases of reference and the period coated. The audit committee can even lend a hand the head of enquiry with the specified independent criminal and other skilled support.
"The scope of enquiry would be comprehensive and include all relevant matters arising out of and in the course of examination of the facts and wherever warranted, use of forensics/e-mail reviews and recordal of statements of relevant personnel etc," the submitting said.
The allegations are related to 'struggle of passion' over a time and 'quid professional quo' in course of Kochhar's work in dealing with positive borrowers.
This comes few days after markets regulator Sebi issued a show-cause realize to the bank and its CEO for alleged violation of disclosure necessities under securities law in the case involving Videocon Group and NuPower Renewables, a firm run via her husband Deepak Kochhar.
ICICI Bank has, then again, subsidized its leader, calling the rumours "malicious and unfounded".
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ICICI Bank in a regulatory submitting said the enquiry can be headed via an independent particular person.
The lender’s board has said that its audit committee will take additional movements in the topic. The committee will appoint the head of enquiry, determine the phrases of reference and the period coated. The audit committee can even lend a hand the head of enquiry with the specified independent criminal and other skilled support.
"The scope of enquiry would be comprehensive and include all relevant matters arising out of and in the course of examination of the facts and wherever warranted, use of forensics/e-mail reviews and recordal of statements of relevant personnel etc," the submitting said.
The allegations are related to 'struggle of passion' over a time and 'quid professional quo' in course of Kochhar's work in dealing with positive borrowers.
This comes few days after markets regulator Sebi issued a show-cause realize to the bank and its CEO for alleged violation of disclosure necessities under securities law in the case involving Videocon Group and NuPower Renewables, a firm run via her husband Deepak Kochhar.
ICICI Bank has, then again, subsidized its leader, calling the rumours "malicious and unfounded".
Read this story in Marathi
ICICI Bank to probe against CEO Chanda Kochhar
![ICICI Bank to probe against CEO Chanda Kochhar]()
Reviewed by Kailash
on
May 31, 2018
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