ICICI-Videocon loan case: Deepak Kochhar may be probed for benami assets

In April last year, tax authorities had questioned Deepak Kochhar over a Rs 405-crore investment by Accion Diversified Strategies Fund through its Mauritius subsidiary, DH Renewables Holding

Nothing concrete has been found to establish tax evasion against Deepak Kochhar’s NuPower Renewables in the income-tax (I-T) department's preliminary probe into the ICICI Bank-Videocon loan case.

However, tax sleuths are thinking of investigating some of his properties under the Benami Transactions (Prohibition) Act. 

In April last year, the tax authorities had questioned former ICICI Bank chief executive officer Chanda Koch­har’s husband, Deepak Koc­hhar, over a Rs 405 crore investment by Singapore-based Accion Diversified Strategies Fund (ADSF) thro­ugh its Mauritius subsidiary DH Renewables Holding.

“The transactions have been carried out in the guise of loans and other business transactions and