Sebi chairman Ajay Tyagi. Photo: Mint
Sebi chairman Ajay Tyagi. Photo: Mint

No reply yet from ICICI Bank on Chanda Kochhar issue: Sebi’s Ajay Tyagi

ICICI Bank CEO Chanda Kochhar is under scanner over a Rs3,250 crore loan granted to Videocon Group on a 'quid pro quo'

Mumbai: Sebi chairman Ajay Tyagi on Thursday said the regulator is yet to receive reply from the ICICI Bank on allegations involving its CEO Chanda Kochhar. Besides the capital markets regulator, various other agencies, including the Central Bureau of Investigation (CBI), are looking into alleged lapses involving Kochhar and her family members with respect to loans extended by the lender to certain entities, including the Videocon group.

“We are yet to receive reply from the ICICI Bank," Tyagi said while briefing reporters after Sebi board meeting in Mumbai.

The cases under scanner include the bank’s Rs3,250 crore loan to Videocon Group in 2012 and the involvement of Kochhar family members in restructuring of the loan.

Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities.

On Monday, the ICICI Bank announced that Kochhar has decided to go on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon and named Sandeep Bakhshi as the chief operating officer.