Videocon paid ICICI Bank dues worth Rs 10 bn till December last year

NuPower will return loan with interest to consumer durables major by 2021

Videocon Industries has paid its dues to ICICI Bank to the tune of almost Rs 10 billion till December last year. The company will also pay its dues for the quarter ended March 2018, said top officials of the bank and the firm.

Videocon is at the centre of controversy over funding of NuPower Renewables — a company owned by Deepak Kochhar, husband of ICICI Bank Managing Director and Chief Executive Officer Chanda Kochhar in lieu of loans granted by the bank to the consumer durables major.

Videocon, ICICI Bank and NuPower have denied the allegations made by a whistle-blower