Deepak Kochhar summoned in ICICI loan case

New Delhi, September 10

Advertisement

As the inspection progresses into six companies linked to the ICICI Bank controversy, the Corporate Affairs Ministry has summoned Deepak Kochhar, husband of bank chief Chanda Kochhar, later this month, a senior official said.

Deepak Kochhar is the Founder and CEO of NuPower Group, as per its website.

Alleged lapses involving ICICI Bank’s MD and CEO Chanda Kochhar, her husband and other family members, with respect to a loan extended to Videocon Industries by the lender have come under the regulatory lens. NuPower Renewables and NuPower Wind Farms are among the six companies whose books are being inspected by the ministry.

On April 23, the ministry ordered an inspection of “books and papers” of six companies linked to the ICICI Bank loan row. They are NuPower Renewables Pvt Ltd, Supreme Energy Pvt Ltd, Pacific Capital Services Pvt Ltd, Videocon Industries Ltd, NuPower Wind Farms Ltd and EchandaUrja Pvt Ltd.

Chanda Kochhar and her family members are also facing allegations ‘conflict of interest’ and ‘quid pro quo’ with respect to loans extended to certain entities. — PTI