ICICI Bank crashed 2 per cent on Thursday after the board ordered an independent probe against its CEO Chanda Kochhar.
The inquiry, including a forensic audit, will look into a whistleblower's allegations of violations of the banks code of conduct, rules on conflict of interest and any impropriety involving quid pro quo dealings with certain borrowers.
The stock fell 1.72 per cent to hit a low of Rs 380.35 on the BSE this morning.The lenders board said its audit committee will take further actions on the matter.
The committee will appoint the head of the investigation, determine the terms of reference and the period covered.
The audit committee will also help with the required independent legal and other professional support.