ICICI Bank to hold ‘independent’ probe into allegations against Kochhar

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Mumbai: Private sector lender ICICI Bank on Wednesday said it instituted an independent enquiry into the allegations levelled by anonymous whistle-blower against MD and CEO Chanda Kochhar

Without detailing the allegations, the bank in a regulatory filing said the enquiry will be headed by an independent and credible person

“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/e-mail reviews and recordal of statements of relevant personnel etc,” the filing said

The allegations are related to ‘conflict of interest’ over a time and ‘quid pro quo’ in course of Kochhar’s work in dealing with certain borrowers.

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