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R. Yegya Narayanan

Coimbatore, Oct. 13 The Coimbatore police have registered a case against “unknown accused” relating to the spreading of rumours about the financial health of ICICI Bank, the shares of which witnessed huge selling pressure in the bourses last week.

Mr Jayachandran Nair, Regional Manager of ICICI Bank, Coimbatore, lodged a complaint stating that SMSes mentioning “Kindly withdraw deposits and savings from ICICI Bank immediately. The bank had approached Reserve Bank of India seeking insolvency” were sent.

The purpose of such messages was to tarnish the image of the bank, destabilise its functioning and cause panic among its customers, the complaint said.

The Race Course police have registered the case under IPC sections 505(i)(c) (making statements with intent to cause fear or spread alarm among public) and 420 (cheating) and section 36(A)(D)(1)(c) of the Banking Regulation Act of 1942.

According to police sources, they were investigating the origin of the SMSes that sought to create doubts about the fundamental strength of the bank. They were also probing if the message had originated from a sub-broker from Tirupur or if he had forwarded a message he had received.

It would be necessary to establish the motive behind the generation of the message so that the accused in the case could be identified. Police sources said the case required detailed investigation and so far no arrests have been made.

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