ICICI shares plunge in the midst of Videocon Loan Row
India's leading private multinational bank, ICICI had its shares drop considerably by 7 percent on the first trading day of the financial year 2018-19 right after Central Bureau of Investigation(CBI) imposed an inquiry relating to the loan sanctioned to Videocon Group.
After a close at Rs. 261.9 and down by 5.93 percent on BSE from the highest price since August 24, 2015, ICICI Bank market evaluation has worn down to Rs. 1.68 million on the BSE. As per the reports, CBI is probing actively on verifying allegations of corruption and looking into a possible nexus between Venugopal Dhoot, Chairman Videocon Group and Chanda Kochar's husband, Deepak Kochhar. ICICI bank also declared reports of conflict " malicious and unfounded" completely denying Kochar's favor recommendations to the agglome...