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. As per a report, the two were called in context of the probe in credit extended to Mehul Choksi’s Gitanjali Group by a bank consortium.
As per the report, a consortium of 31 banks that loaned money to the Gitanjali Group, was led by the ICICI Bank. Reportedly, the two senior ladies are being questioned so that certain clarifications could be gathered. These two top executives are therefore not being accused.
Previously, it was also highlighted by the ICICI Bank that the private bank was only lending working capital to Nirav Modi group of companies along with several other banks and therefore did not have any exposure to the group. As a part of the probe procedure, ICICI Bank Executive Director NS Kanan had also been questioned earlier in the same case.
In association with the bank fraud cases related to the celebrity diamond designer Nirav Modi and his uncle Mehul Choksi, nearly 20 people have been arrested so far.
Apart from the CBI and the Enforcement Directorate, or ED, SFIO (the investigating arm of the Corporate Affairs Ministry), is one of the half a dozen central agencies that are probing the bank fraud.