The Essar Group has denied it has any links with the Deepak Kochhar-promoted NuPower Renewables, the Mauritius-based DH Renewables or First Land Holdings.
The rising share of renewables in India’s total energy consumption does not appear to have significantly benefitted companies floated by Deepak Kochhar, who has a sizeable interest in the sector. An ET Intelligence Group analysis of the documents filed with the Ministry of Corporate Affairs
Deepak Kochhar’s company NuPower Renewables has sought more time to explain its Mauritius connections, having failed to meet the April 10 deadline for answers demanded by the income tax department.
Deepak Kochhar, promoter of NuPower and husband of ICICI Bank MD & CEO Chanda Kochhar, denied media reports quoting him as saying that inviting Videocon chairman Venugopal Dhoot to join NuPower’s board was a mistake.
A clutch of 17 companies from auto parts maker Motherson Sumi to Zuari 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).
NuPower Renewables Pvt. Ltd is exploring the sale of its wind power portfolio, said two people aware of the development.
NuPower Renewables Pvt. Ltd founded by Deepak Kochhar is in the news for all the wrong reasons.
While the ICICI Bank board has reposed its trust in current MD and CEO Chanda Kochhar after denying any quid-pro-quo in the Videocon loan saga, the carefully-worded clarification has left people with more questions than answers.