Videocon case: Sebi can't demand Chanda Kochhar's resignation, says report

If found guilty of violating fair disclosure norms, Sebi can impose a penalty but cannot ask Chanda Kochhar to resign, according to the report

ICICI Bank chief Chanda Kochhar, who is under the lens of several Indian and foreign agencies for alleged irregularities in her dealing with certain borrowers, faces a maximum penalty of Rs 250 million from Securities and Exchange Board of India (SEBI) if found guilty, according to a report.

The market regulator is probing if she and her bank violated its disclosure norms. 

According to Sebi rules, a maximum penalty of Rs 250 million, or three times the ill-gotten gains, can be levied by the market watchdog.

“Only a financial penalty can be levied as under the current notice, there is