Stacks of papers await a hearing. (Photographer: Dennis Brack/Bloomberg News)

ICICI Bank Loan Case: CBI Questions CFO Of NuPower Renewables

The CBI today questioned the chief financial officer of NuPower Renewables, the company that is at the heart of allegations of nepotism, in connection with a Rs 3,250 crore loan from ICICI Bank Ltd. to the Videocon Group in 2012.

Sunil Bhuta was questioned at the headquarters of the Central Bureau of Investigation in New Delhi, officials told PTI. He has been associated with NuPower since its inception, they added. According to the website of the company, Bhuta has been “responsible for overall finance, accounts, audit and taxation function for NuPower since inception”.

The loan came under scanner after reports questioned it linking it to a possible quid pro quo that Videocon Group promoter Venugopal Dhoot allegedly had with NuPower Renewables, a company founded by Deepak Kochhar, the husband ICICI Bank’s chief executive officer and managing director Chanda Kochhar. The CBI has registered a preliminary enquiry against Dhoot and Deepak Kochhar and other unidentified persons, the officials said.

Also Read: The Rs 210 Crore Firm That Cost ICICI Bank Shareholders Rs 27,000 Crore

Agency officials said they were also studying relevant documents of the transaction and if they came across any evidence that indicated wrongdoing, Deepak Kochhar along with others could be summoned for detailed questioning.

They said the statements of nodal officers of ICICI Bank, who were part of processing the loan of about Rs 3,250 crore, had been recorded as part of the enquiry registered six weeks ago.

Also Read: RBI Probe In 2016 Found No Proof Of ‘Quid Pro Quo’ In Videocon Loans

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