On April 23, the ministry ordered inspection of six companies, including NuPower Renewables.
There are allegations of involvement of former ICICI Bank chief Chanda Kochhar and her family members in a loan provided to Videocon Group on a quid pro quo basis. It was alleged that Videocon pumped money into NuPower Renewables, a firm owned by Deepak Kochhar, husband of Chanda Kochhar.
Amid the raging controversy, Chanda Kochhar stepped down as the bank's Managing Director and CEO in October.
The inspection is being carried out by the Regional Director (Western Region) under Section 206 (5) of the Companies Act, 2013.
"I think they (RD) have completed their inquiries, they have taken the depositions from whomever they want to take and I think they are preparing the report," he told PTI.
Section 206 provides powers to call for information, inspect books and conduct inquiries.
As per Section 206 (5), the central government may, if it is satisfied that the circumstances so warrant, direct inspection of books and papers of a company by an inspector appointed by it for the purpose.