The Canadian Securities Exchange has neither approved nor disapproved the contents of this press release.
In what raises questions of propriety and conflict of interest, the transfer of the company to Deepak Kochchar happened six months after the Videocon Group got a loan of Rs 3, crore from ICICI Bank. Almost 86 per cent of that loan Rs 2, crore remains unpaid and Videocon account was declared an NPA in Click image to enlarge The statement, however, did not address the specific query from The Indian Express on Deepak Kochchar-Venugopal Dhoot transactions or the conflict of interest.
Consider the sequence of events and transactions, as per records investigated by The Indian Express: Dhoot held 50 per cent stake in the company with his family members and associates.
You might like Will not contest the Lok Sabha election: Kochhar held the remaining 4. But on the issue of loan granted to Videocon Group, the bank said: However, Registrar of Companies filings of Supreme Energy show that Dhoot owned it until October and then transferred his share holding to Punglia in November On the question of conflict of interest, a spokesperson for NuPower said: The remaining holding is with Mauritius-based DH Renewables.
While the company came into existence in Decemberit announced net losses in last six financial years.View Your Account; Today's e-Edition; Newsletters; Pay Your Bill; Report Delivery Issues; Temporary Stop/Restart; Insider; Member Guide; Help and Support; Sign Out.
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