ICICI Bank’s Chanda Kochhar Summoned By Anti-Fraud Agency In Bank Fraud Case

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ICICI Bank chief Chanda Kochhar and Axis Bank’s Shikha Sharma have been summoned by the anti-fraud agency, SFIO, in a bank fraud case.

Sources said the two top bank executives of private banks had been called in context of the probe in credit extended to Mehul Choksi’s Gitanjali Group by a bank consortium.

Ms Kochhar is the chief executive officer of ICIC bank and Ms Sharma, heads Axis Bank.

ICICI Bank led a consortium of 31 banks that lent money to the Gitanjali Group. Sources indicate the senior officials are only being questioned for clarifications and not as accused in the fraud case.

ICICI Bank had earlier underlined that the private bank did not have any exposure to Nirav Modi group of companies but the bank was only lending working capital to the group along with several other banks.