Deepak Kochhar is an Indian businessman. He is the co-founder and CEO of NuPower Renewables. He is the husband of Chanda Kochhar, an Indian banker and former managing director and CEO of ICICI Bank.
Deepak Virendra Kochhar was born on Wednesday, 15 February 1961 (age 62 years; as of 2023) in Mumbai. His zodiac sign is Aquarius. He was born in a corporate society in Mumbai. He holds a Master of Finance degree from the Jamnalal Bajaj Institute of Management Studies, the University of Mumbai in Mumbai. Later, he studied Advanced Management Program (AMP) at Harvard Business School in Boston, Massachusetts, USA.
Height (approx.): 5′ 9″
Weight (approx.): 75 kg
Hair Colour: Black
Eye Colour: Black
Deepak Kochhar belongs to a Hindu family in Mumbai.
Parents & Siblings
His father, Virendra Kochhar, is an officer in the Indian Navy.
He has a brother named Rajiv Kochhar, who is a businessman.
Wife & Children
He is married to Chanda Kochhar, an Indian banker and former CEO of ICICI Bank. The couple has two children. They have one daughter named Aarti Kochhar, owner of Taali Foods, and a son named Arjun Kochhar, a squash player.
Before getting married to Chanda Advani (now Chanda Kochhar), he dated Chanda, who was his business schoolmate. He met her at the Jamnalal Bajaj Institute of Management Studies, where he was studying finance, and Chanda Advani was studying management.
Flat No.45, CCI Chambers, Dinshaw Wachha, Road, Churchgate, Mumbai-400020
He set up a company named Credential Finance in partnership with his brother, Rajiv Kochhar. In the early 2000s, the company fell into tax-related issues in court and was deregistered by the stock exchange. After the issue, he parted ways with the company.
Avista Advisory Group
After leaving Credential Finance, he set up the Avista Advisory Group in Singapore with some of its offices in India.
Pacific Capital Services Private Limited
He has a company named Pacific Capital Services. Reportedly, 90% of the company was owned by Neelam Adani, Chanda Kochhar’s sister-in-law and 10% was owned by Virendra Kochhar, Deepak Kochhar’s father.
On 24 December 2008, he founded the company NuPower Renewables Private Limited in partnership with Venugopal Dhoot, the owner of Videocon Group, the Kochhar, and the Advani families. The company had about 700 MW of renewable energy assets operating and had projects located in Tamil Nadu, Karnataka, Rajasthan, Maharashtra, Andhra Pradesh and Madhya Pradesh. On 10 June 2009, he became the director of Quality Techno Advisors Private Limited. On 3 January 2011, he became the director of NuPower Technologies Private Limited. On 24 July 2013, he was appointed as the director of NuPower Windfarms Limited. He became the managing director of Echanda Urja Private Limited on 12 November 2014. On 22 July 2021, he became the additional director of Elegant Investrade Private Limited. Zauba Corp
ICICI Loan Fraud Case
In April 2018, CBI questioned her about the conflict of interest in the ICICI Bank-Videocon loan controversy. The CBI initiated a preliminary investigation into the alleged wrongdoing in the ICICI loan of Rs. 3,250 crores to the Videocon Group, naming the founder of the Videocon Group, Venugopal Dhoot, Deepak Kochhar, and others. Chanda Kochhar and Deepak Kochhar were arrested by the CBI on 23 December 2022, in connection with alleged irregularities in a loan of more than Rs. 3,000 crores given to the Videocon Group while she was the head of the ICCI Bank. She resigned from her positions as managing director and CEO of ICICI Bank in October 2018. To favour Videocon Group, a manufacturer of consumer electronics and an oil and gas exploration company, Chanda Kochhar is accused of breaking the bank’s internal rules and the code of conduct. For alleged irregularities in a loan of Rs. 3,250 crores to the Videocon Group in 2012 that turned into a non-performing asset for the ICICI Bank, the CBI accused her of criminal conspiracy and cheating. According to reports, after the Videocon group received a loan from the ICICI Bank, former Videocon chairman Venugopal Dhoot allegedly invested crores of rupees in NuPower Renewables, which is a company founded by Deepak Kochhar. Reportedly, Ms Kochhar served on the committee that sanctioned the loan to the Videocon Group. NDTV On 23 December 2022, Deepak Kocchar and Chanda Kochhar were arrested by CBI for being involved in the ICICI Bank-Videocon Fraud case. Hindustan Times
A Bombay High Court ruling on 9 January 2023 released Deepak Kochhar and his wife, Chanda Kochhar, citing their arrests were “illegal.” A division bench of justices Revati Mohitedere and PK Chavan ruled that the arrest violated Section 41A (notice of appearance before police officer) of the Code of Criminal Procedure, and ordered Ms Kochhar to be released from Byculla jail and Mr Kochhar to be released from Arthur Road jail on a cash bond of Rs. 1 lakh. The Hindu A chargesheet was filed by the CBI on 8 April 2023 against Chanda Kochhar, her husband Deepak Kochhar, and Venugopal Dhoot under Sections 120-B (criminal conspiracy) and 409 (criminal breach of trust), among other provisions, under the Indian Penal Code (IPC). The Tribune On 19 February 2024, the Bombay High Court declared their arrest unjust as it was carried out without due consideration for legal procedures and proper application of the law. India Today
- Deepak Kochhar is a professional squash player and has won 3 national titles.
- He likes to watch films in his leisure time.
- His wife, Chanda Kochhar, is one of the most influential and popular CEOs in India. She has been featured on the power list of many prominent magazines and tabloids including Forbes, Fortune, Bloomberg Markets, and more. She is also a recipient of the Padma Bhushan award.
- He was the managing trustee of Pinnacle Energy.
- In November 2014, her daughter, Aarti, got married to Aditya Kaji. Many businessmen, CEOs, and A-list celebrities including Mukesh Ambani, Nita Ambani, Gautam Adani, Kumar Mangalam Birla, P Chidambaram, Uddhav Thackeray, Nitin Gadkari, Shah Rukh Khan, Amitabh Bachchan, and many more attended her wedding.