ICICI Bank to probe CEO's role post whistle-blower complaint; stock up 4%

ICICI Bank gained 4 per cent to Rs 297 levels on the NSE on Friday, a day after the bank decided to conduct an independent enquiry into allegations of breach of code of conduct and conflict of interest against its managing director, Chanda Kochhar.
 
The enquiry will be headed by an “independent and credible person”, the bank said in a filing to the stock exchanges.
 

The allegations of wrongdoing pertain to loans extended by ICICI Bank to the Videocon group, which had business relations with NuPower Renewables, owned by Chanda Kochhar’s husband Deepak Kochhar.

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