ICCI Bank-Videocon loan case: Things to know about Rajiv Kochhar
ICCI Bank-Videocon loan case: Things to know about Rajiv Kochhar on Business Standard. Rajeev Kochhar helped ICICI Bank clients in restructuring their foreign loans, Rajiv Kochhar is the brother of ICICI Bank MD & CEO Chanda Kochhar's husband Deepak Kochhar. Know more on ICICI Bank Videocon loan case.
Latest News Avista Advisory group, a Singapore based company owned by Rajeev Kochhar, is said to have helped ICICI Bank clients in restructuring their foreign loans. On Thursday, the Central Bureau of Investigation stopped Kochhar at the Mumbai airport and questioned him. But who is Rajeev Kochhar? Here are a few things to know about Rajeev Kochhar and his alleged role in the ICICI Bank-Videocon loan case: Rajiv Kochhar is the brother of ICICI Bank MD & CEO Chanda Kochhar husband Deepak Kochhar, who is facing a CBI probe in relation to an alleged impropriety in the loan the bank gave consumer durables firm Videocon. It is being investigated if the loan was granted to Videocon in lieu of the firm’s investments in Kochhar’s personal company Nupower. Nupower, the ICICI Bank board and Videocon have denied any wrongdoing. The Kochhar brothers are well known in Mumbai’s financial circles for setting up Credential Finance in the 1990s. The company folded up in the early 2000s and both brothers parted ways. Rajeev Kochhar, who is the son-in-law of Sharad Upasani, the former chief
secretary of Maharashtra, later went to Singapore to set up Avista Advisory group. Over the past six years, Avista won the mandate to restructure foreign currency-denominated debt deals worth over $1.7 billion to seven companies. All these companies were borrowers of ICICI Bank. In at least one of these deals, ICICI Bank was the lead bank of the lenders, the Indian Express reported on Tuesday.
READ MORE