<p class="bodytext">Shares of ICICI Bank plunged nearly 6% on Monday, wiping out Rs 10,452.84 crore from its market valuation, amid controversy over alleged conflict of interest involving the lender and Videocon Group.</p>.<p class="bodytext">The stock tumbled 5.93% to end at Rs 261.90 on the BSE. Intra-day, it dived 7% to Rs 258.90. At the NSE, the stock plunged 5.92% to close at Rs 261.85.</p>.<p class="bodytext">Following the sharp fall, the company's market valuation eroded by Rs 10,452.84 crore, to Rs 1,68,344.16 crore at close. The stock was the worst performer among blue-chips on both Sensex and Nifty indices on Monday.</p>.<p class="bodytext">On the volume front, 25.51 lakh shares of the company were traded on the BSE and over 7 crore shares changed hands at the NSE during the day. Shares of Videocon Industries also fell 4.97% to Rs 12.42 - the lowest trading permissible limit for the day - on the BSE.</p>.<p class="bodytext">With ICICI Bank embroiled in a controversy over alleged conflict of interest involving its CEO Chanda Kochhar, market regulator Sebi has begun looking into the matter for any possible disclosure and corporate governance-related lapses.</p>.<p class="bodytext">Earlier, last week, some media reports mentioned about alleged involvement of Kochhar and her family members in a loan provided to Videocon Group on quid pro quo basis.</p>.<p class="bodytext">The CBI has questioned a few officials of ICICI Bank, as part of a preliminary enquiry to find out if any quid pro quo was involved in the bank giving Rs 3,250 crore loan to the Videocon Group in 2012.</p>.<p class="bodytext">ICICI Bank said its board would meet to review insolvency cases before the NCLT.</p>
<p class="bodytext">Shares of ICICI Bank plunged nearly 6% on Monday, wiping out Rs 10,452.84 crore from its market valuation, amid controversy over alleged conflict of interest involving the lender and Videocon Group.</p>.<p class="bodytext">The stock tumbled 5.93% to end at Rs 261.90 on the BSE. Intra-day, it dived 7% to Rs 258.90. At the NSE, the stock plunged 5.92% to close at Rs 261.85.</p>.<p class="bodytext">Following the sharp fall, the company's market valuation eroded by Rs 10,452.84 crore, to Rs 1,68,344.16 crore at close. The stock was the worst performer among blue-chips on both Sensex and Nifty indices on Monday.</p>.<p class="bodytext">On the volume front, 25.51 lakh shares of the company were traded on the BSE and over 7 crore shares changed hands at the NSE during the day. Shares of Videocon Industries also fell 4.97% to Rs 12.42 - the lowest trading permissible limit for the day - on the BSE.</p>.<p class="bodytext">With ICICI Bank embroiled in a controversy over alleged conflict of interest involving its CEO Chanda Kochhar, market regulator Sebi has begun looking into the matter for any possible disclosure and corporate governance-related lapses.</p>.<p class="bodytext">Earlier, last week, some media reports mentioned about alleged involvement of Kochhar and her family members in a loan provided to Videocon Group on quid pro quo basis.</p>.<p class="bodytext">The CBI has questioned a few officials of ICICI Bank, as part of a preliminary enquiry to find out if any quid pro quo was involved in the bank giving Rs 3,250 crore loan to the Videocon Group in 2012.</p>.<p class="bodytext">ICICI Bank said its board would meet to review insolvency cases before the NCLT.</p>