ICICI Bank decides to postpone AGM by a month

ICICI Bank's annual general meeting has been rescheduled to September 12 as against the earlier schedule of August 10.

By PTI  
Monday, July 16, 2018

ICICI Bank has decided to postpone its annual general meeting (AGM) by a month amidst independent enquiry conducted by Justice B N Srikrishna on alleged cases of impropriety against the bank's CEO Chanda Kochhar.

The meeting has been rescheduled to September 12 as against the earlier schedule of August 10.

"We wish to update that the change in AGM date and the consequent changes in record dates was necessitated due to the sequencing of general meeting dates within the listed entities of ICICI Group," the bank said in filings to stock exchanges.

Meanwhile, Kochhar has gone on leave till the completion of an external enquiry into alleged conflict of interest in extending loans to some corporates like Videocon.

Kochhar and her family members are facing allegations of quid pro quo and conflict of interest with respect to a loan extended to certain entities, including the Videocon group.

Multiple agencies, including the CBI and regulator Sebi, are already probing the alleged lapses involving Kochhar and her family members.

The current tenure of Kochhar, who has been at the helm since 2009 and has been on annual leave for some time now, ends next March.

Related Stories

Inside story of transformation that was underway at Bank of Baroda just before the big merger
Inside story of transformation that was underway at Bank of Baroda just before the big merger
Bank of Baroda-Vijaya-Dena merger: Gainers, losers, swap ratio and more
Bank of Baroda-Vijaya-Dena merger: Gainers, losers, swap ratio and more
Bank of Baroda's merger with Vijaya Bank, Dena Bank: Four key challenges
Bank of Baroda's merger with Vijaya Bank, Dena Bank: Four key challenges

Latest Stories

Rupee recovers 27 paise from its all time-closing low on dollar sale by RBI
Rupee recovers 27 paise from its all time-closing low on dollar sale by RBI
Xiaomi Redmi 6A to go on first sale in India today; price starts at Rs 5,999
Xiaomi Redmi 6A to go on first sale in India today; price starts at Rs 5,999
Bank of Baroda's merger with Vijaya Bank and Dena Bank: New entity to be operational from April 1
Bank of Baroda's merger with Vijaya Bank and Dena Bank: New entity to be operational from April 1
SPONSORED