At Rs 16.25 mn, combined losses mounted for Kochhar firms in FY17

ICICI MD's brother-in-law is reported to have helped the bank's clients recast foreign loans

Two India-registered companies belonging to Rajiv Kochhar, brother of ICICI Bank managing director and chief executive Chanda Kochhar's husband, Deepak Kochhar, suffered combined losses of Rs 16.25 million in 2016-17, their highest in four years.

The Avista Advisory group, a Singapore-based company owned by Rajiv Kochhar, is said to have helped ICICI clients in restructuring their foreign loans. On Thursday, the Central Bureau of Investigation (CBI) stopped Rajiv Kochhar at the airport here and questioned him. He was let go on Thursday but again called for questioning on Friday.

Business Standard looked at the financial results for Avista Corporate Finance Advisory and