New Delhi: Security and Exchange Board of India (Sebi) served a notice to ICICI Bank MD and CEO Chanda Kochhar in connection with the bank’s dealings with Nupower, a company run by her husband, Deepak Kochhar, and the Videocon group.

The regulator has asked ChandaKochhar to respond to matters “relating to alleged non-compliance with certain provisions of the erstwhile listing agreement and the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015," ICICI Bank said in a filing with BSE. An appropriate response would be submitted to Sebi, the bank said in the same filing.

Sebi has been making enquiries since reports began emerging some two months ago about the dealings between ICICI Bank, Videocon group and NuPower. The latest notice has been served on ChandaKochhar based on information that ICICI Bank and its top executive had furnished to Sebi.

The regulator apparently believes that certain matters relating to the dealings between the bank’s MD, her husband and the Videocon group were not disclosed to the board, hence the enquiries.

It is alleged that VenugopalDhoot, chairman of Videocon group, had invested Rs 64 crore in NuPower Renewables, a firm owned by Deepak Kochhar. Prior to that, Videocon group had got aRs 3,240-crore loan from ICICI Bank in 2012. The loan was part of a larger loan that the diversified group got from a consortium of banks, including ICICI Bank. After the news made headlines, the CBI also launched a preliminary investigation into the whole affair.