Business: ICICI Bank has issued a clarification on the allegations of stock market regulator SEBI chief Madhabi Puri Buch taking salary from ICICI Bank despite her retirement. The bank denied these allegations and said in a regulatory filing, no salary or ESOPs have been given to the SEBI chairperson.

In a regulatory filing on the stock exchange, ICICI Bank said, media reports alleging salary payment to SEBI Chairperson Madhabi Puri Buch have come to our notice. In this matter, we want to clarify that ICICI Bank or its group companies have neither paid any salary nor issued any ESOPs after the retirement of Madhabi Puri Buch. According to ICICI Bank, Madhabi Puri Buch had opted for her retirement from October 31, 2013. 

ICICI Bank said that, they have been given salary, retirement benefits, bonus and e-sops as per the rules set while working in the group. As per the bank's e-sop rules, there is an option to use e-sops in the next few years from the date of allotment. As per the rules set while issuing e-sops to them, the employee or retired employee had the option to use e-sops within 10 years.