Supreme Energy's stake in NuPower sold at market rate: Deepak Kochhar

He denied any conflict of interest in the stake sale by Supreme Energy to Pinnacle Trust

When Deepak Kochhar’s Pinnacle Trust bought the stake held by Venugopal Dhoot’s Supreme Energy in NuPower in 2010, the deal came with a liability of a Rs 640 million loan. 

Kochhar, currently managing director (MD) of NuPower Renewables, is in the middle of a controversy involving his wife and ICICI Bank MD and CEO Chanda Kochhar’s alleged conflict of interest in being part of a committee that approved the loan to Dhoot’s Videocon group. “When Pinnacle Trust bought the stake of Supreme Energy, it included a liability of Rs 640 million. The purchase was at a fair market value (prevailing