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Business News/ Industry / Banking/  ICICI Bank postpones annual general meeting to 12 September
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ICICI Bank postpones annual general meeting to 12 September

ICICI Bank has postponed its annual general meeting amidst allegations of wrongdoings by its MD and CEO Chanda Kochhar

The ICICI Bank is facing three whistleblower complaints accusing it of conflict of interest over lending to Videocon group due to its business dealings with Chanda Kochhar’s husband.Premium
The ICICI Bank is facing three whistleblower complaints accusing it of conflict of interest over lending to Videocon group due to its business dealings with Chanda Kochhar’s husband.

Mumbai: ICICI Bank has informed stock exchanges that it has postponed the annual general meeting by a month to 12 September, amid allegations of wrongdoings by its managing director and chief executive officer Chanda Kochhar. The AGM was to be held on 10 August.

“We wish to update that the change in AGM date and the consequent changes in record dates was necessitated due to the sequencing of general meeting dates within the listed entities of ICICI Group," said the bank in a filing to the exchange

The bank is facing three whistleblower complaints accusing it of conflict of interest over lending to Videocon group due to its business dealings with Kochhar’s husband. Following the second complaint, the bank had instituted a probe by an independent panel to verify the charges made by the whistleblower. The Srikrishna panel’s investigation runs parallel to probes by government authorities into an alleged nexus between Videocon Group and Kochhar’s husband Deepak Kochhar.

Kochhar is currently on leave and till the investigation is over and Sandeep Bakshi has taken interim charge as the chief operating officer.

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ABOUT THE AUTHOR
Gopika Gopakumar
Gopika Gopakumar has worked for over 15 years as a banking journalist across print and television media. Her expertise lies in breaking big corporate stories and producing news based TV shows. She was part of the 2013 IMF Journalism Fellowship Program where she covered the Annual & Spring meetings of the International Monetary Fund in Washington D.C. She started her career with CNBC-TV18, where she also produced a news feature show called Indianomics and an award winning show on business stories from South India called Up South. She joined Mint in 2016.
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Published: 16 Jul 2018, 10:46 PM IST
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