 "ICICI Videocon loan case")
When Deepak Kochhar’s Pinnacle Trust bought the stake held by Venugopal Dhoot’s Supreme Energy in NuPower in 2010, the deal came with a liability of a Rs 640 million loan.
Kochhar, currently managing director (MD) of NuPower Renewables, is in the middle of a controversy involving his wife and ICICI Bank MD and CEO Chanda Kochhar’s alleged conflict of interest in being part of a committee that approved the loan to Dhoot’s Videocon group. “When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing
