"As far as the law is concerned, the law of the land will take its own course and the processes are already going on both internally in ICICI Bank and externally, which will come out with their findings," Goyal told reporter here today.
There are allegations of impropriety in ICICI Bank extending loans to some companies and enjoying reciprocal benefits.
It is alleged that family members of the private sector lender's CEO and MD, Chanda Kochhar, including her husband Deepak Kochhar, got financial favours from the borrowers against the loans sanctioned by the bank.
Market regulator Sebi has served a notice on Kochhar on dealings of the bank with Videocon Group and Nupower.
The investments from Ruia's son-in-law's firm into NuPower started in December 2010. Incidentally, the same month ICICI Bank was the lead banker in a consortium of Indian banks that extended USD 530 million loan to Essar Steel Minnesota LLC on December 29, 2010. This loan was later classified as NPA.
In 2012, a consortium of 20 banks and financial institutions sanctioned credit facilities to the Videocon Group for a debt consolidation programme and for its oil and gas capital expenditure programme aggregating to approximately Rs 40,000 crore.
(This story has not been edited by Business Standard staff and is auto-generated from a syndicated feed.)