ICICI Bank Falls Most In Over 2 Months As SEBI Begins Enquiry In Loan To Videocon — Shares of the country’s leading private-sector lender fell as much as 4.6 percent, the most in over two months, to Rs 265.55, also its lowest level since Oct. 2017.
Reports alleged quid pro quo between Videocon Group and the bank’s Chief Executive Officer Chanda Kochhar as well as her family members with respect to extending a loan worth Rs 3,250 crore, an issue that has snowballed into a controversy even as the lender has come out in defence of Kochhar.
Meanwhile, market regulator Securities and Exchange Board of India has begun looking into the matter for any possible disclosure and corporate governance-related lapses.
