Mumbai: Icici Bank has told the stock exchange that Independent Director Rama Bijapurkar, who said on Friday that he resigned because of conflict of interest, had obtained 4,900 stock equity banks on January 5, when the trading window was closed.
The bank added that Bijapurkar was sentenced to Rs 2 Lakh.
In his letter by exchange with the subject of ‘unintentionally trade by the designated person’, the bank said that the independent financial advisor bought 4,900 shares of Bank Icici’s equity in his account without the previous intimacy to him when the trading window was closed.
“The Bank’s audit committee was informed of this incident.
Based on the submission of Bijapurkar, it was concluded that this was an accidental trade made without intention to violate the bank code that prohibits trade in people in or rules.
However, because there are violations of bank codes and regulations, penalties RS 2 Lakh has been charged after confirmation by the Audit Committee at his meeting held on January 22, 2022 and the number will be sent to investor protection.
Education funds (IPEF) in accordance with Sebi Regulations, “Bank said.
Bijapurkar has submitted his resignation to the head of the bank on Friday stating that the role of consultation and teaching, which involves involvement with other financial institutions, is considered contrary to his director.
On Saturday, Icici Bank also stated that the height of each quarterly profit of Rs 6,194 Crore – increased by 25% over the period last year.