Home >industry >banking >ICICI Bank postpones annual general meeting to 12 September

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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