The United States’ top regulator Securities and Exchange Commission (SEC) is investigating ICICI Bank for alleged irregularities in certain borrower loan accounts, leading to incorrect asset classification.
While the SEC had received complaints from institutional investors in the US to look into corporate governance and disclosure issues in 2018, the investigation is now focused on alleged incorrect asset classification. According to the bank’s latest filing on July 31, the SEC has sought a detailed explanation related to these accounts as well as on alleged incorrect ...
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