Deepak Kochhar's journey from the pinnacle to faltering trust
Deepak Kochhar's journey from the pinnacle to faltering trust on Business Standard. Deepak Kochchar face Central Bureau of Investigation (CBI) enquiry for Videocon group Chairman Venugopal Dhoot's alleged investment of Rs 640 million into a company.
Latest News Residents of the tony CCI Chambers, opposite Cricket Club of India, in south Mumbai are in a state of disbelief. The Kochhars, one of their oldest and high-profile neighbours, are making headlines for all the wrong reasons. Chanda Kochhar, 56, managing director and chief executive officer of ICICI Bank, and her husband, Deepak Kochhar, 60, find themselves in a huge controversy over the bank’s loan to the Videocon group. Deepak is facing a Central Bureau of Investigation (CBI) preliminary enquiry for Videocon group Chairman Venugopal Dhoot’s alleged investment of Rs 640 million into a company owned by him, just a few months before ICICI Bank disbursed a Rs 32 billion loan to the group in 2012. “We are all surprised. This was not expected. Let us hope that they come out of it without any further problem,” said a neighbour. Deepak, son of a military officer, is well known in the corporate circles of Mumbai. Despite owning several expensive properties across Mumbai, the Kochhars prefer to live in their south Mumbai apartment. Deepak, old timers say, has always been ambitious.
After graduating from Mumbai University, he joined Jamnalal Bajaj Institute Of Management Studies to get a master’s degree in finance. There Deepak met Chanda Advani (now Chanda Kochhar), who was from Jaipur. While Chanda decided to get into a stable salaried job at erstwhile ICICI in 1984, Deepak decided to work for himself. To sharpen skills, Deepak attended an advanced management programme from Harvard Business School. But luck was not on his side.
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