Videocon Debt Case: Income Tax Department issues new notice to Deepak Kochhar

Officials have informed that Deepak Kochar has been sent this notice to his personal capacity. It has sought information about their personal transactions and financial status.

Chanda Kochhar and Deepak Kochar (file photo)

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New Delhi: Income Tax Department has issued a fresh notice to Deepak Kochhar in the case of tax evasion. Deepak Kochhar is the husband of private sector ICICI Bank's Managing Director and CEO Chanda Kochhar. This case is linked to the ICICI Bank-Videocon loan case.

Officials have informed that Deepak Kochar has been sent this notice to his personal capacity. It has sought information about their personal transactions and financial status. Officials said that Deepak Kochar has been asked to provide the document within ten days.

The Income Tax Department has sought details from him as the Managing Director of Nippavar Renewable (MD), twice before he has requested the details. The income tax department has been closely monitoring the cash flow of 325 crore rupees received from Nippavar Renewable Pvt Ltd from two companies located in Mauritius. These two foreign companies have been identified as First Land Holdings Limited and DH Renewable Holdings Limited.

Tax officials are now studying the activities of Nippa Renewables between 2010-11 and 2015-16.