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ICICI Bank To Probe CEO & MD Chanda Kochhar


India's largest private sector lender, ICICI Bank today said it will conduct an independent enquiry into an anonymous whistleblower's complaint about alleged impropriety by its Managing Director and Chief Executive Officer Chanda Kochhar.

ICICI Bank To Probe CEO & MD Chanda Kochhar
The enquiry will be conducted by an "independent and credible" person appointed by the bank, the private lender said in a notification to the stock exchanges. "The scope of enquiry would be comprehensive and include all relevant matters arising out of and in the course of examination of the facts and wherever warranted, use of forensics/email reviews and recordal of statements of relevant personnel etc," the notification read.

The shares of ICICI Bank were among the top losers from the Nifty, though the announcement by the Board of the bank was made after market hours. The stock may react negatively to trade on Thursday.

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