Decoding the link between NuPower's largest shareholder and Panama papers

NuPower has been in the news after the allegations of ICICI Bank disbursing a loan to the Videocon group emerged

The largest shareholder in NuPower Renewables shares an address with an entity named in the Panama Papers, a global exposé of offshore financial dealings that came to light in 2016.

NuPower has been in the news after the allegations of ICICI Bank disbursing a loan to the Videocon group, which had ties with NuPower, started doing the rounds. The Central Bureau of Investigation, the Enforcement Directorate, and the income tax department are investigating the case, which involves allegations of a conflict of interest because NuPower founder Deepak Kochhar’s wife, Chanda Kochhar, heads ICICI Bank. All involved parties have denied impropriety. 

Business Standard