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Deepak Kochhar summoned in ICICI scam

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New Delhi : As the inspection progresses into six companies linked to ICICI Bank controversy, the Corporate Affairs Ministry will question Deepak Kochhar, husband of the bank’s chief Chanda Kochhar, later this month, a senior official said. Deepak Kochhar is the founder and CEO of NuPower Group. Alleged lapses involving Chanda Kochhar, her husband and other family members, with respect to a loan extended to Videocon by the lender have come under the regulatory lens. NuPower Renewables and NuPower Wind Farms are among the six companies whose books are being inspected by the ministry.

On April 23, the ministry ordered an inspection of “books and papers” of six companies linked to the ICICI Bank loan controversy. They are NuPower Renewables, Supreme Energy, Pacific Capital Services, Videocon Industries Ltd, NuPower Wind Farms and EchandaUrja.

A senior ministry official said that Deepak Kochhar has been summoned later this month for questioning in connection with the case.


However, specific details could not be immediately ascertained.

The inspection is being carried out by the office of the Regional Director (Western Region) under the ministry. It was ordered under Section 206(5) of the Companies Act.

Section 206 provides powers to call for information, inspect books and conduct inquiries.

According to 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.