Deepak Kochhar is an Indian businessman. He is the co-founder and CEO of NuPower Renewables. He is the husband of Chanda Kochhar, an Indian banker and former managing director and CEO of ICICI Bank.
Wiki/Biography
Deepak Virendra Kochhar was born on Wednesday, February 15, 1961 (age 62 years; in 2023) in Mumbai. His zodiac sign is Aquarius. He was born in a corporate establishment in Mumbai. He holds a Masters degree in Finance from the Jamnalal Bajaj Institute of Management Studies, University of Mumbai in Mumbai. Later, he studied Advanced Management Program (AMP) at Harvard Business School in Boston, Massachusetts, USA.
Physical appearance
Height (approx): 5′ 9″
Weight (approx): 75 kg
Hair Color: Black
Eye Color: Black
Family
Deepak Kochhar belongs to a Hindu family in Mumbai.
Parents & Siblings
His father, Virendra Kochhar, was an officer in the Indian Navy.
Deepak Kochhar’s father
He has an elder brother named Rajiv Kochhar, who is a businessman.
Deepka Kochhar’s brother, Rajiv Kochhar
Wife & Children
He is married to Chanda Kochhar, an Indian banker and former CEO of ICICI Bank. The couple has two children. They have a daughter named Aarti Kochhar, owner of Taali Foods, and a son named Arjun Kochhar, a squash player.
Deepak Kochhar with his wife and daughter, Aarti
Deepak Kochhar with his wife and son
Relationships/Affairs
Before marrying Chanda Advani (now Chanda Kochhar), he was friends with Chanda, who was his business school friend. He met her at the Jamnalal Bajaj Institute of Management Studies, where he was studying finance, and Chanda Advani was studying management.
Deepak Kocchar with Chanda Kochhar
Address
Flat No.45, CCI Hall, Dinshaw Wachha, Road, Churchgate, Mumbai-400020
Career
businessman
Accreditation Finance
He set up a company called Credential Finance in collaboration with his brother, Rajiv Kochhar. In the early 2000s, the company fell into tax-related issues in court and was delisted by the stock exchange. After the issue, he parted ways with the company.
Avista Advisory Group
After leaving Credential Finance, he established Avista Advisory Group in Singapore with several offices in India.
Rajiv Kochhar, co-founder of Avista Advisory Group
Pacific Capital Services Private Limited
He has a company called Pacific Capital Services. Reportedly, 90% of the company is owned by Neelam Adani, Chanda Kochhar’s sister-in-law and 10% is owned by Virendra Kochhar, Deepak Kochhar’s father.
NuPower Renewable
On 24 December 2008, he founded the company NuPower Renewables Private Limited in collaboration with Venugopal Dhoot, owner of the Videocon Group, Kochhar and the Advani family. The company has about 700 MW of renewable energy assets in operation and has projects located in Tamil Nadu, Karnataka, Rajasthan, Maharashtra, Andhra Pradesh and Madhya Pradesh. On 10 June 2009, he became a director of Quality Techno Advisors Private Limited. On 3 January 2011, he became a director of NuPower Technologies Private Limited. On 24 July 2013, he was appointed as a director of NuPower Windfarms Limited. He became the managing director of Echanda Urja Private Limited on 12 November 2014. On 22 July 2021, he became the additional director of Elegant Investrade Private Limited.
Deepak Kochhar, founder and managing director of NuPowerChanda Kochhar Renewables
Controversy
ICICI Loan Fraud Case
In April 2018, the CBI questioned him about conflict of interest in the ICICI Bank-Videocon loan controversy. The CBI started a preliminary investigation into alleged misconduct in an ICICI loan of Rs. 3,250 crores to the Videocon Group, naming the founders of the Videocon Group, Venugopal Dhoot, Deepak Kochhar, and others. Chanda Kochhar and Deepak Kochhar were arrested by the CBI on December 23, 2022, in connection with alleged irregularities in loans of more than Rs. 3,000 crores was given to the Videocon Group when he was the head of ICCI Bank. He resigned as managing director and CEO of ICICI Bank in October 2018. In favor of Videocon Group, a consumer electronics manufacturer and oil and gas exploration company, Chanda Kochhar was accused of violating the bank’s internal rules and code of conduct. As for the alleged irregularities in the loan of Rs. 3,250 crores to the Videocon Group in 2012 which turned into non-performing assets for ICICI Bank, the CBI accused him of criminal conspiracy and fraud. According to reports, after the Videocon group received a loan from ICICI Bank, former Videocon chairman Venugopal Dhoot allegedly invested millions of rupees in NuPower Renewables, a company founded by Deepak Kochhar. Reportedly, Ms Kochhar served on the committee that sanctioned the loan to the Videocon Group. On 23 December 2022, Deepak Kocchar and Chanda Kochhar were arrested by the CBI for their involvement in the ICICI Bank-Videocon Fraud case.
Timeline of the ICICI Bank and Videocon Group loan scam controversy
A Bombay High Court verdict on 9 January 2023 acquitted Deepak Kochhar and his wife, Chanda Kochhar, on the grounds that their detention was “illegal”. A panel of divisional judges Revati Mohitedere and PK Chavan ruled that the arrest violated Section 41A (notice of appearance before a police officer) of the Criminal Procedure Code, and ordered Ms Kochhar released from Byculla jail and Mr Kochhar released from Arthur Road Jail on a cash bond of Rs. 1 lakh. A chargesheet was filed by the CBI on 8 April 2023 against Chanda Kochhar, her husband Deepak Kochhar, and Venugopal Dhoot under Sections 120-B (criminal conspiracy) and 409 (criminal breach of trust), among other provisions, under the Indian Penal Code (IPC ).
Facts/Trivia
- Deepak Kochhar is a professional squash player and has won 3 national titles.
- He likes to watch movies in his spare time.
- His wife, Chanda Kochhar, is one of the most influential and popular CEOs in India. He has been featured in the power lists of many leading magazines and tabloids including Forbes, Fortune, Bloomberg Markets and more. He is also a Padma Bhushan awardee.
Chanda Kochhar received the Padma Bhushan Award in 2011
- He is a managing trustee of Pinnacle Energy.
- In November 2014, her daughter, Aarti, married Aditya Kaji. Many businessmen, CEOs and A-list celebrities including Mukesh Ambani, Nita Ambani, Gautam Adani, Kumar Mangalam Birla, P Chidambaram, Uddhav Thackeray, Nitin Gadkari, Shah Rukh Khan, Amitabh Bachchan, and many more attended her wedding.
Politicians, businessmen, and celebrities attended Chanda Kochhar’s daughter’s wedding
Categories: Biography
Source: SCHOOL TRANG DAI
