Money & Banking

ICICI Bank to hold ‘independent’ probe into allegations against Kochhar

PTI Mumbai | Updated on May 30, 2018

Private sector lender ICICI Bank today said it instituted an independent enquiry into the allegations levelled by an anonymous whistle-blower against MD and CEO Chanda Kochhar. Without detailing the allegations, the bank in a regulatory filing said the enquiry will be headed by an independent and credible person.

“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 filing said.

The allegations are related to ‘conflict of interest’ over a time and ‘quid pro quo’ in the course of Kochhar’s work in dealing with certain borrowers.

Published on May 30, 2018

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