SEBI supports ‘judicial inquiry’ against Chanda Kochhar in 'Conflict of Interest' case
Tuesday - June 26, 2018 2:34 pm ,
Category : WTN SPECIAL
Soon ‘Judicial enquiry’ against Chanda Kochhar!
JUNE 26 (WTN) - Chief Executive Officer of ICICI Bank Chanda Kochhar is getting screwed up. According to the information, in an initial probe into SEBI, a judicial enquiry against Chanda Kochhar for violating the rules for publicizing information for listed companies on 'Conflict of Interest' in business transactions between her husband (Deepak Kochhar) and Videocon Group, this process is supported to start.
According to information received from the media, if both the ICICI bank and Chandar Kochhar are found guilty, they can face a fine. According to the information, as per the rules on ICICI Bank, a fine of up to Rs.25 crore may be imposed for such shortcomings. So there can be penalty of up to Rs.01 crore on Chanda Kochar. According to the information, after the review of SEBI's notice served to ICICI Bank, Chanda Kochhar and others, the judicial process will soon be started.
Here, a spokesman of ICICI Bank said, “the bank and its managing director got a show-cause notice, whereas it has been asked why they should be investigated under the Securities Contract (Regulation) rules. The bank's spokesman said that on which basis of the documents has been sent received. After the legal advice, the show-cause notice will be answered in the prescribed deadline.
Here, along with SEBI investigations, ICICI Bank has also announced an 'independent inquiry' and Chanda Kochhar has gone on leave till the inquiry is completed. Sources have even said that Chanda Kochhar has been sent on ‘force leave’. Here ICICI Bank says that its board has ‘full faith’ in Chanda Kochhar. According to information from sources, Chanda Kochhar has admitted that many business transactions have been conducted with Videocon in the past many years with her husband Deepak Kochar.
As per the sources that Chanda Kochhar has also accepted that Deepak Kochhar and Venugopal Dhoot are co-founders and promoters of NuPower Company. Based on the initial report, SEBI concludes that there is a case of 'conflict of interest' in ICICI Bank transactions with Videocon. According to the information, SEBI has recommended the judicial process against ICICI Bank and Chanda Kochhar. For your information, let you know that ICICI Bank gave a loan of Rs.3,250 crore to Videocon group in the year 2012. The involvement of Chanda's family members in this loan and restructuring of this loan is in the midst of a question whose investigation is going on.
JUNE 26 (WTN) - Chief Executive Officer of ICICI Bank Chanda Kochhar is getting screwed up. According to the information, in an initial probe into SEBI, a judicial enquiry against Chanda Kochhar for violating the rules for publicizing information for listed companies on 'Conflict of Interest' in business transactions between her husband (Deepak Kochhar) and Videocon Group, this process is supported to start.
According to information received from the media, if both the ICICI bank and Chandar Kochhar are found guilty, they can face a fine. According to the information, as per the rules on ICICI Bank, a fine of up to Rs.25 crore may be imposed for such shortcomings. So there can be penalty of up to Rs.01 crore on Chanda Kochar. According to the information, after the review of SEBI's notice served to ICICI Bank, Chanda Kochhar and others, the judicial process will soon be started.
Here, a spokesman of ICICI Bank said, “the bank and its managing director got a show-cause notice, whereas it has been asked why they should be investigated under the Securities Contract (Regulation) rules. The bank's spokesman said that on which basis of the documents has been sent received. After the legal advice, the show-cause notice will be answered in the prescribed deadline.
Here, along with SEBI investigations, ICICI Bank has also announced an 'independent inquiry' and Chanda Kochhar has gone on leave till the inquiry is completed. Sources have even said that Chanda Kochhar has been sent on ‘force leave’. Here ICICI Bank says that its board has ‘full faith’ in Chanda Kochhar. According to information from sources, Chanda Kochhar has admitted that many business transactions have been conducted with Videocon in the past many years with her husband Deepak Kochar.
As per the sources that Chanda Kochhar has also accepted that Deepak Kochhar and Venugopal Dhoot are co-founders and promoters of NuPower Company. Based on the initial report, SEBI concludes that there is a case of 'conflict of interest' in ICICI Bank transactions with Videocon. According to the information, SEBI has recommended the judicial process against ICICI Bank and Chanda Kochhar. For your information, let you know that ICICI Bank gave a loan of Rs.3,250 crore to Videocon group in the year 2012. The involvement of Chanda's family members in this loan and restructuring of this loan is in the midst of a question whose investigation is going on.
