ICICI Bank delays AGM by a month

One of India’s largest private sector lenders, ICICI Bank, has decided to postpone it’s annual general meeting by a month.

The bank is in the midst of a raging controversy over conflict of interest charges against its MD & CEO Chanda Kochhar.

The AGM will now scheduled on 12 September instead of 10 August, the bank informed the exchanges.

“We inform that the AGM is now rescheduled and will be held on Wednesday, September 12, 2018. Dividend on equity shares, will be paid/despatched on or after the same is approved by the shareholders at the AGM,” the bank said.

The bank has commissioned a probe by a panel headed by former Supreme Court judge B.N. Srikrishna but has not said by what time the committee will submit the report. Ms. Kochhar has decided to go on leave till the investigation is over.

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