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ICICI Bank's Chanda Kochhar, Axis Bank's Sikha Sharma summoned over Gitanjali loans

The mumbai wing of the Serious Fraud Investigation Office has summoned  ICICI Bank  CEO  Chanda Kochhar  and  Axis Bank  CEO  Shikha Sharma  in the Rs 5,000 crore loan extended to Mehul Choksi’s  Gitanjali Gems . The summons sent to both Kocchar and Sharma requests them to appear in person or send a representative. Almost 31 banks are a part of a consortium which had given Rs 5,280 crore working capital facility extended to Choksi’s companies of which ICICI Bank is the lead lender. People in the know also indicated that the fraud office may soon summon other banks who are part of the consortium. Investigative agencies are probing all loans and facilities extended to  Mehul Choksi  and  Nirav Modi  and their associate companies in the Rs 12000 crore fraud which hit Punjab National Bank last month. Both Choksi and Modi have fled the country before the fraud emerged at the end of January. Now, Nirav Modi’s associa...