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Court orders filing of case against ICICI officers

Last updated: 30 March, 2011
Bangalore, March 29, DHNS :

A local court has ordered registration of a criminal case against 18 officials of ICICI Bank, including its Managing Director, on a complaint filed by a chartered accountant. Acting on a complaint filed by Nithyananda, former chairman of Chartered Accountants Association, the Fifth Additional Chief Metropolitan Magistrate, H Shantha, on Monday ordered registration of a criminal case against the officials for defamation.

Nithyananda in his complaint had alleged that the officials were using force against him and that they were threatening to defame him, if an amount of Rs 37,042 was not paid.

He also alleged that his credit card was stolen by a former bank employee, who had misused it. The court issued summons directing the officials to appear before it on May 31. The bank management has forwarded the matter to its legal department and is awaiting its response before taking further action.

Misappropriation charges

In another complaint, some customers of ICICI Securities Limited have alleged that the funds and securities deposited by them in their respective banks and demat accounts linked to their trading accounts were misappropriated.

They have been protesting outside the firm’s Bangalore office for the last couple of days. The ICICI management said: “Subsequent to the death of Rajiv Bansal, a sub-broker of ICICI Securities Limited in February 2011, some customers approached our Bangalore office alleging misappropriation and that they had issued cheques to Bansal and his wife Reena Bansal.”

The management said letters were sent to each of the complainants asking them to submit detailed claims on March 11, 2011. “Till date, we are in receipt of only four claims from customers,” it added.


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