SAT asks SEBI not to act till September 15-chanda-kochhar-issue-sat-asks-sebi-s-adjudicating-officer-not-to-proceed-till-15-September-nodvkj– News18

New Delhi. Appellate body Securities Appellate Tribunal (SEBI) has asked the judiciary of market regulator SEBI not to take action on September 15 in the case related to former ICICI Bank chief Chanda Kochhar. The case pertains to the show cause notice issued to Kochhar by the regulator on the basis of an analysis of a report by retired Justice BN Srikrishna.

The Srikrishna committee, which was tasked with investigating allegations of transactions in ICICI Bank, submitted its report to the lender in January 2019. The committee said in its report that Kochhar has violated the policy and other rules of the bank.

Final hearing of the case will be held on September 15
Kochhar was the Managing Director and CEO of ICICI Bank and resigned in October 2018. SAT in its order dated July 9 restrained the judicial officer from taking any action in the matter till the next hearing. The SAT said that the final hearing of the case will be on September 15.

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