Gold Silver Reports (GSR) – ICICI Bank Falls As SEBI Favours Adjudication Proceedings Against Bank, CEO – Shares of the Mumbai-based private sector lender fell as much as 1.54 percent to Rs 285.25 after the market regulator favoured adjudication proceedings against ICICI Bank and its CEO Chanda Kochhar for alleged violation of listing disclosure norms, news agency Press Trust of India reported citing an unnamed official.
The report added that ICICI Bank may face a penalty of up to Rs 25 crore under the relevant SEBI regulations for such lapses, while the fine for Kochhar may go up to Rs 1 crore, besides other penal actions.
