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ICICI Bank, Kochhar under US regulatory probe scanner

Besides, the Indian regulators and investigative agencies are mulling seeking help from their overseas counterparts, including in Mauritius, as part of their own probes, officials said

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Chanda Kochhar. File Pic/AFP

Chanda Kochhar. File Pic/AFP

As a multi-agency probe continues in India into alleged lapses involving ICICI Bank's chief Chanda Kochhar and her family, the matter has also come under the scanner of the US markets regulator Securities and Exchange Commission (SEC). Besides, the Indian regulators and investigative agencies are mulling seeking help from their overseas counterparts, including in Mauritius, as part of their own probes, officials said.

When asked about its probe into matters related to ICICI Bank and Kochhar, a spokesperson for the SEC Office of Public Affairs declined to comment. The queries sent to ICICI Bank also remained unanswered. The bank has already instituted an independent enquiry into allegations of 'conflict of interest' and 'quid pro quo' in Kochhar's dealing with certain borrowers.

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