ICICI loan case: CBI questions NuPower Renewables directors

The Central Bureau of Investigation (CBI) on Thursday questioned Umanath Venkat Naik, the director of NuPower Renewables in connection with a case related to Rs 3,250 crore loan to the Videocon Group in 2012.

NuPower Renewables is a joint venture of Videocon Group chief Venugopal Dhoot and ICICI Bank CEO Chanda Kochhar's husband Deepak Kochhar.

The probe agency also interrogated the former director of NuPower Renewables, Mahesh Chander Punglia at CBI Headquarters here.

Earlier on April 8, the agency had examined Pugalia, who is also a close aide of Dhoot and brother-in-law of Rajee Kochhar. Rajeev is the brother-in-law of Chanda Kochhar.

For the unversed, media reports earlier in March highlighted an alleged involvement of Chanda Kochhar and her family members in a loan provided to Videocon group on quid pro quo basis in 2012.

Soon after, Indian Investors Protection Council Trustee Arvind Gupta said the evidence in the case pointed out that Chanda Kochhar was herself a beneficiary of the loan, and her husband Deepak Kochhar is an indirect beneficiary of the loan granted to Videocon.

Earlier, the Income Tax (IT) department had sent a notice to NuPower Renewables.