'Sebi acted in haste': Chanda Kochhar gets interim relief from SAT

Tribunal directs Kochhar to file a fresh application before Sebi

Chanda Kochhar

Chanda Kochhar

BS Reporter Mumbai
Granting interim relief to former ICICI Bank managing director & chief executive officer Chanda Kochhar, the Securities and Appellate Tribunal (SAT) on Thursday said Sebi “acted in haste in fixing a date for hearing without supplying the requisite documents to the appellant (Kochhar)”.

SAT directed Kochhar to file before Sebi a fresh application, indicating with clarity and precision the documents sought for inspection, within two weeks. After getting such a request, according to the tribunal, Sebi should either provide inspection or pass an appropriate order giving reasons why the appellant could not be provided inspection or a copy of the documents.

The case pertains to the allegations of ‘conflict of interest’ in approval of loans given by ICICI Bank to

First Published: Jun 16 2022 | 6:52 PM IST

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