In a development in the ICICI-Videocon loan case, Central Bureau of Investigation (CBI) on Sunday questioned Rajiv Kochhar and two directors of NuPower Renewables Pvt Ltd – Umanath Vainkut Nayak and Mahesh Chandra Pugalia. All of them were grilled at the Bandra office of the national investigative agency. 5 days ago, Income Tax Department sent a notice to Deepak Kochhar’s NuPower renewable under section 131 of Income Tax Act. This is the 4 time that Rajiv Kochhar was questioned, Pugalia was questioned for 2 second consecutive day. 

Nayak and Pugalia are being questioned by CBI in their alleged role to offer consultancy services to Videocon Group. CBI officials confirmed that they were questioned by the agency. They were also asked about the role of Rajiv Kochhar’s Singapore-base company Avista Advisory on the restructuring of the loan, added agency officials. Earlier, the CBI had questioned Rajiv Kochhar for 3 continuous days in the case. On Thursday, he was stopped at the Mumbai airport by immigration authorities when he was about to take Singapore based flight. The authorities handed him to CBI to investigate his role in the Videocon-ICICI loan case.

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The complaints have been filed against the Deepak Kochhar and other Videocon officials to reveal alleged wrongdoing in the sanction of loans by ICICI bank to Videocon Group in 2012. ICICI MD and CEO is also being questioned on the conflict of interest in the case. Earlier, Videocon Group chairman Venugopal Dhoot has ended his long kept silence over the Videocon-ICICI Bank case and termed all the media reports baseless.

In an interview to a Marathi channel, Venugopal Dhoot also denied any possible dealings with ICICI Bank MD and CEO Chanda Kochhar’s husband, Deepak Kochhar. He also said that all the recent reports involving him, including the loan of Rs 64 crore to Nupower Renewable through one of his companies that later resulted in Deepak Kochhar becoming the sole boss of the company are unsubstantiated.

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