Kochhars are under lens since whistleblower Virendra Gupta's disclosures in 2016 regarding the Rs 3,250 crore plus Rs 660 crore loans and alleged quid pro quo in the form of an identical 10 pc foreign funding  (Rs 325 crore and Rs 66 crore) in Kochhar's husband Deepak Kochhar's company NuPower Renewables.

Rajiv Kochhar is the founder of Avista Advisory which is alleged to have got the mandate to restructure foreign currency denominated debt deals worth over $1.7 billion of seven companies including the Videocon Group over the last six years.

The CBI (Central Bureau of Investigation) and the Income Tax Department are probing the Rs 3,250-crore loan to Videocon Group in 2012. Now the Serious Fraud Investigation Office (SFIO) has also sought permission from the ministry of corporate affairs to probe the case.

ICICI-Videocon case: Deepak Kochhar denies quid pro quoChanda Kochhar's husband and NuPower Renewables co-founder and CEO Deepak Kochhar has denied any quid-pro-quo in sanctioning of Rs 3,250 crore loan to Videocon by the ICICI Bank in response to a questionnaire sent by Business Today. Also, Venugopal Dhoot has refuted the charge that NuPower Renewables was a joint venture between Videocon and Deepak Kochhar. Meanwhile, questions sent to ICICI Bank CEO Chanda Kochhar were respo...

Sharma's findings put before the short notice board meeting on March 28 were the same that he conducted in 2016. At that time, Sharma evaluated the bank's credit evaluation process right after whistleblower Virendra Gupta's disclosures in 2016 regarding the Rs 3,250 crore and Rs 660 crore loans and alleged quid pro quo in the form of an identical 10 per cent foreign funding in Kochhar's husband Deepak Kochhar's company NuPower Renewables.

Chanda Kochhar's husband and NuPower Renewables CEO Deepak Kochhar has denied any quid-pro-quo in sanctioning of Rs 3,250 crore loan to Videocon by the ICICI Bank in response to a questionnaire sent by Business Today.

If the Ministry gives the go ahead, the SFIO will become the third investigating agency to probe the alleged favouritism in sanctioning the multi-billion loans to the Videocon Group.

An elaborate statement by ICICI Bank Chairman M.K. Sharma defending the embattled MD and CEO Chanda Kochhar against allegations of conflict of interest has not left observers any wiser.

ICICI Bank CEO Chanda Kochhar will no longer be guest of honour at the FICCI Ladies Organisation annual event. President Ram Nath Kovind is the chief guest for the April 5 function at which 10 entreprenuers were to be honoured.

Few more notices have been sent to the people associated with the firm and based on their replies, further action will be taken, they said. In a related development, the CBI officials said that Deepak Kochhar, who has been named in a preliminary enquiry, will be called for questioning soon.

Clarifying his stand on the allegations levelled against him to some Marathi channels, visibly-agitated Dhoot said: \"Marathi 'manoos' is unnecessary being targeted. We belong from a Varkari community of Maharashtra, who are devotees of Lord Vitthal. We would never enter into illegal act or any financial irregularities.\"

Govt blames global prices for high fuel costs, wants to bring oil under GSTUnder fire for rising cost of oil in the domestic market, which remained at a four-year high for petrol and an all time high for diesel in the national capital on Monday, the government blamed high international prices for the spike. The minister for petroleum and natural gas Dharmendra Pradhan made a case for oil to be included under the Goods and Services Tax (GST).  \"We have advocated for bringing ...

There are over half a dozen other mid-sized companies that have invested in the equity capital of Echanda Urja Pvt Ltd, a subsidiary of NuPower Renewables.

The whistle-blower who first red-flagged \"the illicit banking and commercial relationship between Videocon Group of Venugopal Dhoot and ICICI Bank's MD & CEO Chanda Kochhar's family\" has reportedly claimed that he'd raised several such cases in the past, too.

Petrol price soars to 4-year high of Rs 73.73 a litre, diesel at all-time highPetrol price has surged to its four-year high of Rs 73.73 a litre in Delhi, while the diesel rate soared to an all-time high of Rs 64.58, renewing calls for the government to cut excise tax rates on the fuels. The rates were raised by 18 paise a litre on both fuels by state-owned oil firms, which have been revising fuel rates on a daily basis since June. Earlier this year, oil ministry sought a reduction...

The Central Bureau of Investigation is set to question ICICI Bank CEO Chanda Kochhar and her husband Deepak Kochhar in connection with the Videocon loan case in Delhi.

Videocon Group Chairman Venugopal Dhoot has said loans were sanctioned by ICICI Bank based on the merit of projects in the oil and gas sector, as he sought to reject allegations of quid pro quo in loan received from the lender.

Videocon Group chairman Venugopal Dhoot has denied any dealings with Deepak Kochhar, the husband of ICICI Bank MD and CEO Chanda Kochhar, beyond investing Rs 2.5 lakh in Deepak's renewable energy business.