Hatsun, Zuari Cement Held Stakes In A Unit Of Deepak Kochhar’s NuPower


Hatsun, Zuari Cement Held Stakes In A Unit Of Deepak Kochhar’s NuPower

A clutch of 17 companies from auto parts maker Motherson Sumi toZuari Cement and several Tamil Nadu based firms — including Hatsun Agro, CavinKare, Dhandapani Cements and TRIL Infopark — together owned about 29% stake in a subsidiary of Deepak Kochhar’s NuPower Renewables as of March 31, 2017, according to data available with the Registrar of Companies (RoC).

Mr. Kochhar, the husband of ICICI Bank CEO Chanda Kocchar, did not own any stake in Echanda Urja Private Ltd. — a company engaged in electric power generation, transmission and distribution — but controlled the utility through his ownership of NuPower Renewables, which owned 70.95% of Echanda Urja, the RoC data show.

Chennai-based dairy firm Hastun Agro was the largest shareholder after NuPower in Echanda Urja, holding 6.11% stake, followed by Shri Govindaraja Textiles Pvt. Ltd. with 4.65% stake, according to the 2017 filings with the RoC. Read More…

Leave a Reply

Your email address will not be published.