Mumbai court drops NuPower fraud charges against Kochhars and others
Business
A Mumbai court has dropped all fraud charges against Deepak Kochhar, his parents, and others linked to NuPower Wind Farms.
The judge said there was just not enough evidence: key documents were missing, and the case file was incomplete.
This case had been dragging on for over seven years (since April 2019).
ICICI Bank whistleblower claims lacked evidence
The accusations were based on statements from a couple of NuPower directors, but there was not much solid proof to back them up.
The whole thing started after a whistleblower complaint about ICICI Bank's loan practices, but in the end, the court found nothing strong enough to move forward.