Sebi asks ICICI Bank to clarify on reports of alleged corporate governance breach

Mumbai: ICICI Bank informed the stock exchanges on Monday that the Securities and Exchange Board of India (Sebi) has requested the bank to clarify on news reports on the alleged corporate governance breaches at the bank.

This comes after a 12 April Economic Times report that the stock exchange regulator has initiated a probe into a Rs3,250 crore loan sanctioned to the Videocon group by ICICI Bank.

Earlier, Central Bureau of Investigation (CBI) had registered a preliminary enquiry to check an alleged nexus between Videocon group chairman Venugopal Dhoot and Deepak Kochhar, the husband of ICICI Bank CEO and MD Chanda Kochhar.