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ICICI loan case: CBI questions two NuPower directors

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New Delhi, April 12 (IANS) The Central Bureau of Investigation (CBI) on Thursday questioned two directors of NuPower Renewables Pvt Ltd in connection with a case related to Rs 3,250 crore loan to the Videocon Group in 2012, a CBI official said.

The agency examined Mahesh Chandra Punglia and Umanath Vainkut Nayak at its headquarters here, the official said.

Earlier, the agency had examined Punglia for three days in Mumbai.

According to the CBI official, Punglia is a close aide of Videocon Group chief Venugopal Dhoot. He was previously an employee of the Group and then would offer consultancy services to it.

Punglia is also a Director in NuPower Renewables — the company formed by ICICI Bank Chief Executive Chanda Kochhar’s husband Deepak Kochhar and Dhoot in December 2008.

Punglia was examined about the role of Chanda Kochhar’s brother-in-law Rajiv Kochhar’s Singapore-based company Avista Advisory in the restructuring of loan.

The NuPower director was also asked about the help he extended to Videocon in securing the loan from the ICICI Bank, which was part of a Rs 40,000 crore credit given by a consortium of 20 banks, led by the State Bank of India, to the Videocon Group.

The agency had on Sunday also questioned Nayak in Mumbai.

Earlier, the agency had questioned Rajiv Kochhar for five consecutive days. He was on Thursday stopped at Mumbai airport by immigration authorities when he was about to leave for Singapore. Later, he was handed over to the CBI which questioned him as part of its preliminary probe against his brother Deepak Kochhar and Dhoot.

The agency had registered a preliminary inquiry against Deepak Kochhar, Videocon Group officials and others to determine any wrongdoing or otherwise in the sanction of loan to the Group by the ICICI Bank as part of the consortium of banks in 2012.

Chanda Kochhar, who is facing questions of conflict of interest in the case, has not been named in the preliminary inquiry, which was registered after news reports raised questions about the Videocon Chairman giving loan of Rs 64 crore to a firm he had jointly promoted with Deepak Kochhar, six months after his group got the Rs 3,250 crore loan.

Sources said Deepak Kochhar and Dhoot could also be called for questioning after examination of documents of the loan and statements.

–IANS
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Dr. Abhishek Verma Dedicates a Shelter in Memory of His Mother, Veena Verma, at KGMU; Inaugurated by Daughter Nicolle Verma

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World-renowned business tycoon Dr. Abhishek Verma has supported Foodman Vishal Singh’s Hunger-Free World mission. In memory of his mother, Late Veena Verma, who was a 3 term Rajya Sabha MP.

Dr. Verma dedicated a state-of-the-art free permanent shelter for the attendants of patients at KGMU Medical University, Lucknow, under the aegis of Vijay Shree Foundation. His daughter, Nicolle Verma, inaugurated the shelter.

During the event, Foodman Vishal Singh honored Nicolle Verma by presenting her with a memento. Mrs. Nidhi Sharma and Avantika Yadav, associated with the organization, welcomed her with garlands. Following this, Nicolle Verma distributed essential items to the attendants and also handed out fruits. She became emotional remembering her grandmother on her birth anniversary.

On this occasion, she also inaugurated the “Veena Verma Sevalaya” in memory of her grandmother, Veena Verma, to serve the attendants. She expressed, “I feel proud that my family is engaged in nation-building as well as social service. Today, in collaboration with Vijay Shree Foundation founder Foodman Vishal Singh Ji, I feel immensely proud to dedicate this shelter for the poor, helpless, and needy attendants of patients battling serious illnesses like cancer. I am honored to be associated with the Hunger-Free World Mission for humanity.”

Inspired by the continuous humanitarian service provided by Vijay Shree Foundation over the past 17 years, Nicolle Verma donated 10 lakh rupees to support the cause. The purpose of this donation is to ensure that services continue for the needy attendants of patients suffering from severe illnesses in hospitals, as facilitated by Foodman Vishal Singh.

It is noteworthy that Dr. Abhishek Verma’s family has a legacy of public and philanthropic service. They are helping millions to carry forward the values and service work of their parents. On the occasion of his mother’s birth anniversary, Dr. Abhishek Verma dedicated this state-of-the-art permanent shelter at Lucknow Medical College to serve the attendants of patients through the Vijay Shree Foundation.

Supporting Foodman Vishal Singh’s Hunger-Free World mission, Dr. Abhishek Verma assured that he would continually support keeping this flame of humanity alive. He also promised to assist in providing medicines to the helpless patients.

Continuing her grandmother’s legacy of service, Nicolle Verma personally served food to the needy patients and attendants. She said, “It is our good fortune to have received the joy of doing this noble work today through Foodman Vishal Singh. I have taken another step forward in carrying my family’s values and cooperation by joining hands with the Vijay Shree Foundation. My father taught me to serve and help the needy, and I feel happy when I bring a smile to someone’s face.”

On the birth anniversary of the late Veena Verma, the event organizer, Vijay Shree Foundation founder Foodman Vishal Singh, said, “We feel proud and happy that Dr. Abhishek Verma, a globally renowned business tycoon, has extended his support to uplift our country from the hunger index. Today, on his mother’s birth anniversary, he inaugurated a state-of-the-art permanent shelter at Lucknow Medical College, which will always be helpful for the needy attendants of patients. It is a pleasure for me and the organization to receive the affection of Mr. Verma.”

The event was attended by General Manager Verma Family Office Hemant Garg, Sonu Rajput, and the organization’s volunteers, including Sandeep Singh, Parmeshwar Ji, Prashant Rao Gautam, Balram Singh, Ramesh Chaudhary, Suman, Jeetu, Anil, Suraj, Vinay, Manish Bhadauria, Manas Mehrotra, Vivek, Apurv, Happy, and others.

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