ICICI Bank said its board would meet to review insolvency cases before the NCLT.
Last week, the ICICI Bank board came out in support of Chanda Kochhar, saying it has full faith and confidence in her and described reports against her over the credit disbursement to Videocon group as "malicious and unfounded rumours".
Venugopal Dhoot, Chairman, Videocon Group.
Shares of ICICI Bank plunged almost 6% on Monday, wiping out Rs 10,452.84 crore from its market valuation, amid controversy over alleged conflict of interest involving the lender and Videocon Group.
It had stated that FLO will honour 10 Indian Women Achievers with FLO ICON AWARDS including Chanda Kochhar, Managing Director & CEO, ICICI Bank for Banking & Finance; Aarti Vij, Chief of AIIMS' Organ Retrieval and Banking Organization (ORBO) for Health & Wellness; Ekta Kapoor, Joint Managing Director and Creative Director of Balaji Telefilms for Media Entrepreneurship and Twinkle Khanna, Entrepreneurs, Author, Film Producer, for Conscientious Cinema.More news: No April showers: 7 inches of snow forecast
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The Income Tax department on Tuesday served a notice on Deepak Kochhar - founder director of NuPower Renewables and husband of ICICI Bank CEO and MD Chanda Kochhar - asking him to explain alleged investments received from two entities based in Mauritius and furnish details as to who all are directors in these two companies. Dhoot also denied any dealings with Deepak Kochhar beyond investing Rs 2.5 lakh in the latter's renewable energy business. Deepak Kochhar then transferred his shareholdings to Pinnacle Energy.
Last week Reserve Bank of India (RBI) slapped a fine of Rs 59 crore for failing to comply with regulations with regard to the selling of bonds in the held to maturity portfolio beyond the mandated limit of 5% of the previous year's outstanding.
According to the whistleblower's letter, ICICI Bank extended loans to the tune of Rs 3,250 to various private companies belonging to Videocon Industries.
The Videocon group account was declared an NPA by the bank in 2017. Meanwhile, in 2017, the CBI has alleged that Sterling Biotech had taken loans of over Rs 5, 000 crore from a consortium led by Andhra Bank which has now turned into a non-performing asset.
Shares of ICICI Bank stock traded up $0.14 during trading on Friday, reaching $8.85. The stock tanked 7 per cent to Rs 258.90 on BSE.
Clearbridge Investments LLC trimmed its holdings in shares of ICICI Bank (NYSE:IBN) by 2.3% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission.
In the NY premarket, ICICI shares were recently sliding 7.6%.