ICICI Bank faces risk of class action suit in US: Broking entity Jefferies

ICICI Bank and its management run the risk of a class action suit in the United States of America (USA) if charges of wrongdoing in giving loans are established, according to US broking entity Jefferies.
 
Indian investigative agencies are probing alleged links between the bank's chief executive officer, Chanda Kochhar, and the Videocon group.
 
There are charges of corruption and a possible nexus between Videocon group chairman Venugopal Dhoot and Chanda Kochhar’s husband, Deepak Kochhar. ICICI has said these are “malicious and unfounded” and denied any favouring by Kochhar of the conglomerate.
 
Nilanjan Karfa and Harshit Toshniwal,