Kochhar’s Renewable Empire

This is a case where an Indian company and another from overseas have put in substantial money and in turn they got nothing in the Indian projects, whereas, the person who has paid almost nothing has about 95 per cent stake in the companies. The beneficiary is Deepak Virendra Kochhar (DVK), the husband of ICICI Bank Ltd’s MD & CEO – Chanda Kochhar. A Padma Bhushan awardee (2010) for her services to the banking sector, Ms Kochhar was the Joint MD & the CFO till May 2009 before she became the MD & CEO of the ICICI Bank.