Videocon loan case: Deepak Kochhar quizzed thrice by I-T Department, Rajiv Kochhar is next
Deepak Kochhar, the founder of NuPower Technologies Pvt Ltd and husband of ICICI Bank's MD and CEO Chanda Kochhar, has been questioned thrice in last four working days by the investigation wing of Income Tax Department in Mumbai.
- May 9, 2018,
- Updated May 10, 2018 1:07 PM IST
Deepak Kochhar, the founder of NuPower Technologies Pvt Ltd and husband of ICICI Bank's MD and CEO Chanda Kochhar, has been questioned thrice in last four working days by the investigation wing of Income Tax Department in Mumbai.
I-T Department sources told IndiaToday.in that Deepak remained physically present for few hours on Monday and Tuesday this week and on Friday last week before the concerned income tax officer to register his statement.
The questioning with Kochhar was primarily in connection with its ongoing investigation into investments of Mauritius-based two companies, i.e. DH Renewables Holding Ltd and Fireland Holdings Pvt Ltd, in Kochhar's NuPower Renewables Pvt Ltd, a few weeks before ICICI Bank gave a loan of Rs 3,250 crore to the Videocon Group in 2012.
In addition, the interrogation also covered Kochhar's financial investments made in an individual capacity and returns filings to examine any tax evasion angle with links to the ICICI Bank-Videocon loan case.
I-T sources said that till now "Deepak Kochhar has not submitted the complete documents related to Mauritius-based companies." In its second notice, the I-T Department had laid down a May 7 deadline to NuPower Renewables to submit all the relevant documents.
"Kochhar has been cooperating in the investigation, but still he has not explained in details the structure and source of funding in DH Renewables and Firstland Holdings," the source told IndiaToday.in.
According to I-T Department sources, the next person to be called for questioning would be Rajiv Kochhar, Avista Advisory's Group CEO and brother-in-law of Chanda Kochhar.
"A month back, the department had summoned Rajiv Kochhar, but as per the plan, Deepak Kochhar was to be questioned first, and later, Rajiv", the source said. The second round of questioning might happen next week.
Both brothers are under the scanner of the Central Bureau of Investigation, which has initiated a preliminary enquiry into the alleged nexus between Deepak Kochhar and Videocon Group chairman Venugopal Dhoot.
At present, the I-T department seems to be tense while investigating this matter after the central government has indicated that the government nominee on the ICICI Bank board may continue to skip meetings till it receives feedback from investigative agencies, especially on the allegations of conflict of interest against Chanda Kochhar.
When queried, spokesperson of Avista Advisory replied back saying, "Rajiv Kochhar has not received any summons or notice till now from the I-T department".
Deepak Kochhar, the founder of NuPower Technologies Pvt Ltd and husband of ICICI Bank's MD and CEO Chanda Kochhar, has been questioned thrice in last four working days by the investigation wing of Income Tax Department in Mumbai.
I-T Department sources told IndiaToday.in that Deepak remained physically present for few hours on Monday and Tuesday this week and on Friday last week before the concerned income tax officer to register his statement.
The questioning with Kochhar was primarily in connection with its ongoing investigation into investments of Mauritius-based two companies, i.e. DH Renewables Holding Ltd and Fireland Holdings Pvt Ltd, in Kochhar's NuPower Renewables Pvt Ltd, a few weeks before ICICI Bank gave a loan of Rs 3,250 crore to the Videocon Group in 2012.
In addition, the interrogation also covered Kochhar's financial investments made in an individual capacity and returns filings to examine any tax evasion angle with links to the ICICI Bank-Videocon loan case.
I-T sources said that till now "Deepak Kochhar has not submitted the complete documents related to Mauritius-based companies." In its second notice, the I-T Department had laid down a May 7 deadline to NuPower Renewables to submit all the relevant documents.
"Kochhar has been cooperating in the investigation, but still he has not explained in details the structure and source of funding in DH Renewables and Firstland Holdings," the source told IndiaToday.in.
According to I-T Department sources, the next person to be called for questioning would be Rajiv Kochhar, Avista Advisory's Group CEO and brother-in-law of Chanda Kochhar.
"A month back, the department had summoned Rajiv Kochhar, but as per the plan, Deepak Kochhar was to be questioned first, and later, Rajiv", the source said. The second round of questioning might happen next week.
Both brothers are under the scanner of the Central Bureau of Investigation, which has initiated a preliminary enquiry into the alleged nexus between Deepak Kochhar and Videocon Group chairman Venugopal Dhoot.
At present, the I-T department seems to be tense while investigating this matter after the central government has indicated that the government nominee on the ICICI Bank board may continue to skip meetings till it receives feedback from investigative agencies, especially on the allegations of conflict of interest against Chanda Kochhar.
When queried, spokesperson of Avista Advisory replied back saying, "Rajiv Kochhar has not received any summons or notice till now from the I-T department".