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ICICI's Videocon loan: Inside Deepak Kochhar's NuPower Renewables

The company raised funds and installed wind power projects, but it has been silent since 2016, when Kochhar stepped down as its MD

NuPower Renewables
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Photo: NuPower Renewables

Pavan Lall Mumbai
Deepak Kochhar, founder of wind energy company NuPower Renewables, has been in the eye of a storm over his company’s relationship with Videocon group, which received a loan in 2012 from ICICI Bank, headed by his wife Chanda Kochhar. Videocon group, also a NuPower investor and financier, has now become a non-performing asset for lenders, including ICICI Bank. 

ICICI Bank came out on Wednesday and Thursday to quash rumours of favouritism, nepotism and quid pro quo. The bank clarified that while Chanda Kochhar was on the credit committee, she was not the chairperson. Videocon Chairman Venugopal Dhoot said there was

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First Published: Mar 31 2018 | 2:22 AM IST

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