Controversy-hit private lender ICICI Bank postpones AGM by over a month

By: | Published: July 16, 2018 8:11 PM

Controversy-hit private lender ICICI Bank has postponed its annual general meeting (AGM) to September 12, 2018 from the earlier scheduled August 10.

ICICI Bank, chanda kochhar, BSE, ICICI group, ICICI bank AGM meetingThe development comes after former Supreme Court Judge Justice B.N. Srikrishna (Retd.) has consented to head the independent enquiry into allegations of impropriety against the lender’s CEO Chanda Kochhar. (Reuters)

Controversy-hit private lender ICICI Bank has postponed its annual general meeting (AGM) to September 12, 2018 from the earlier scheduled 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 lender said in a BSE filing on Monday.

The filing also detailed the “revised dates of book closure” between August 28, 2018 and September 12, 2018 (both days inclusive). The development comes after former Supreme Court Judge Justice B.N. Srikrishna (Retd.) has consented to head the independent enquiry into allegations of impropriety against the lender’s CEO Chanda Kochhar.

Last month, Kochhar decided “to go on leave till the completion of the inquiry” in relation to the allegations levelled against her. Accordingly, Sandeep Bakhshi was appointed as the Wholetime Director and Chief Operating Officer (COO) designate of the bank.

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