Chanda Kochhar case for regulatory lapses pending before officer: Sebi

Market regulator Sebi said the case involving ICICI Bank and its former CEO Chanda Kochhar for alleged regulatory lapses is pending before the adjudicating officer.

The case is pertaining to allegations of involvement of Kochhar and her family members in a loan provided to Videocon group on a quid pro quo basis.

The case alleging lapses in disclosure on the part of the bank and Kochhar is pending before the adjudicating officer, Sebi's whole time member Anant Barua told reporters after the board meeting.

The bank is yet to file an application under its consent mechanism to settle the case, he added.

As per Sebi's preliminary probe, Chanda Kochhar's husband Deepak Kochhar had many business dealings with the Videocon group over the past several years.

Besides, Deepak and Videocon chief Venugopal Dhoot were co-founders and promoters of NuPower, besides other associations.