ICICI Bank clarifies on SFIO probe, stock jumps 3%

NEW DELHI: Shares of private lender ICICI Bank surged as much as 3 per cent in the morning trade on Thursday after the bank in a BSE filing, clarified that it has not received any communication from the SFIO in ICICI-Videocon case.

Media reports on Wednesday stated that the Serious Fraud Investigation Office (SFIO) is awaiting Ministry of Corporate Affairs’ (MCA) nod to probe ICICI Bank’s Rs 3,250 crore loan to the Videocon group.

It is well within the SIFO's ambit to make a reference about a case but there is no such reference currently with the corporate affairs ministry on the issue involving ICICI Bank and Videocon Group, PTI reported late Wednesday quoting a senior official.


The CBI has launched a preliminary investigation into Rs 3,250 crore loan ICICI Bank had extended to Videocon in 2012 and the role of Chanda Kochhar's husband Deepak Kochhar.

The stock closed 3.52 per cent up at Rs 277.90 on BSE.