Videocon case: ICICI Bank, Kochhar miss Sebi deadline, ask for more time

Showcause notice had given time to respond till Thursday

ICICI Bank and its managing director and chief executive officer, Chanda Kochhar, have sought more time to respond to a show-cause notice served by the Securities and Exchange Board of India (Sebi).

According to sources, they have written to the regulator, requesting it to share documents on the basis of which the notice was served. The deadline to respond to the notice was Thursday.

“Sebi issued a 12-page show-cause notice to ICICI Bank and Chanda Kochhar on May 23. The notice, however, did not have adequate documents to support the allegations. Before filing an appropriate reply, evidence of alleged contravention