Deepak Kochhar is an Indian businessman. He is co-founder and CEO of NuPower Renewable Energy. He is the husband of Chanda Kochhar, an Indian banker and former MD and CEO of ICICI Bank.
Wiki/Biography
Deepak Virendra Kochhar was born on Wednesday, February 15, 1961, in Mumbai (age 62 years; as of 2023). His zodiac sign is Aquarius. He was born into a corporate society in Mumbai. He holds a Master’s degree in Finance from Jamnalal Bajaj Institute of Management Studies, University of Mumbai, Mumbai. He subsequently studied in the Advanced Management Program (AMP) at Harvard Business School in Boston, Massachusetts, USA.
appearance
Height (approximately): 5′ 9″
Weight (approximately): 75kg
Hair color: black
Eye color: black
family
Deepak Kochhar was born into a Hindu family in Mumbai.
Parents and siblings
His father Virendra Kochhar was an Indian Navy officer.
Deepak Kochhar’s father
He has a brother named Rajiv Kochhar who is a businessman.
Deepka Kochhar’s younger brother Rajiv Kochhar
wife and children
His husband is Chanda Kochhar, an Indian banker and former CEO of ICICI Bank. The couple has two children. They have a daughter, Aarti Kochhar, owner of Taali Foods, and a son, Arjun Kochhar, a Squash player.
Deepak Kochhar with wife and daughter Aarti
Deepak Kochhar with wife and son
Relationships/Affairs
Before marrying Chanda Advani (now Chanda Kochhar), he dated Chanda, a business school classmate. He met her at the Jamnalal Bajaj Institute of Management, where he was studying finance and Chanda Advani was studying management.
Deepak Kochar and Chanda Kochar
address
Apartment No. 45, CCI Chambers, Dinshaw Wachha, Road, Churchgate, Mumbai-400020
Profession
merchant
Voucher finance
He teamed up with his brother Rajiv Kochhar to set up a company called Credential Finance. In the early 2000s, the company ran into tax-related issues and was delisted from the stock exchange. He parted ways with the company after the problems arose.
Avesta Advisory Group
After leaving Credential Finance, he established Avista Advisory Group in Singapore and has some offices in India.
Rajiv Kochhar, co-founder, Avista Advisory Group
Pacific Capital Services Pte Ltd
He owns a company called Pacific Capital Services. According to reports, 90% of the company is owned by Chanda Kochhar’s sister-in-law Neelam Adani and 10% by Deepak Kochhar’s father Virendra Kochhar.
New Energy Renewable Energy Company
On December 24, 2008, he founded NuPower Renewables Private Limited in partnership with Videocon Group owners Venugopal Dhoot, the Kochhar family and the Advani family. The company has approximately 700 MW of renewable energy assets with projects located in Tamil Nadu, Karnataka, Rajasthan, Maharashtra, Andhra Pradesh and Madhya Pradesh. On June 10, 2009, he became a Director of Quality Techno Advisors Private Limited. On January 3, 2011, he became a director of NuPower Technologies Private Limited. On July 24, 2013, he was appointed as a director of NuPower Windfarms Limited. He became the Managing Director of Echanda Urja Private Limited on November 12, 2014. On July 22, 2021, he became an additional director of Elegant Investrade Private Limited.
Deepak Kochhar, Founder and Managing Director, NuPowerChanda Kochhar Renewable Energy
dispute
ICICI loan fraud case
In April 2018, the CBI questioned her over conflict of interest issues in the ICICI Bank-Videocon loan controversy. The CBI has launched a preliminary investigation into alleged irregularities in ICICI’s rupee loans. Donate Rs 3,250 crore to Videocon Group, naming Venugopal Dhoot, Deepak Kochhar and others, founders of Videocon Group. Chanda Kochhar and Deepak Kochhar were arrested by the Central Bureau of Investigation (CBI) on December 23, 2022, for alleged loan irregularities exceeding Rs. During her tenure as ICCI Bank Governor, she donated Rs 3,000 crore to Videocon Group. She resigned as Managing Director and CEO of ICICI Bank in October 2018. Chanda Kochhar was accused of violating the bank’s internal rules and code of conduct in support of consumer electronics maker and oil and gas explorer Videocon Group. Alleged Rs loan irregularities. Rs 3,250 crore provided to Videocon Group in 2012 turned into non-performing assets of ICICI Bank and the CBI charged her with criminal conspiracy and fraud. According to reports, Venugopal Dhoot, former chairman of Videocon, allegedly invested crores of rupees in NuPower Renewables, a company founded by Deepak Kochhar, after the Videocon group received a loan from ICICI Bank. Ms Kochhar reportedly served on the committee that approved the loan to Videocon Group. On December 23, 2022, Deepak Kocchar and Chanda Kochhar were arrested by the CBI in connection with the ICICI Bank-Videocon fraud case.
Timeline of ICICI Bank and Videocon Group loan fraud dispute
The Bombay High Court ruled on January 9, 2023, to release Deepak Kochhar and his wife Chanda Kochhar on the grounds that their arrest was “illegal”. Justices Revati Mohitedere and PK Chavan ruled that the arrest violated Section 41A (Notice to appear before police) of the Criminal Procedure Code and ordered the release of Ms Kochhar from Byculla Prison and the release of Mr Kochhar from Arthur Prison. The cash bond at Road Jail is Rs. 100,000. The Central Bureau of Investigation (CBI) on April 8, 2023, charged Chanda Kochhar, her husband Deepak Kochhar and Venugopal Dhoot filed the chargesheet (IPC). On February 19, 2024, the Bombay High Court declared that their arrest was unjust as it was carried out without due regard to legal procedures and correct application of the law.
Facts/Trivia
- Deepak Kochhar is a professional squash player who has won 3 national championships.
- In his spare time he likes to watch movies.
- His wife, Chanda Kochhar, is one of India’s most influential and popular CEOs. She has appeared on many prestigious magazine and tabloid power lists, including Forbes, Fortune, Bloomberg Markets, and more. She is also a Padma Shri Award recipient.
Chanda Kochhar was awarded Padma Shri in 2011
- He is the 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 Chidambara Kim, Uddhav Thackeray, Nitin Gadkari, Shah Rukh Khan, Amitabh Bachchan, etc. all attended her wedding.
Politicians, businessmen and celebrities attending Chanda Kochhar’s daughter’s wedding
Categories: Biography
Source: HIS Education