Probe agencies examine Nupoweressar links

NEW DELHI: Investigating agencies are looking at whether DH Renewables Holding Ltd, the Mauritius-based special purpose vehicle of Accion Diversified Fund that is the major shareholder in Nupower Renewables is related in any way, directly or indirectly, to Essar Group, according to two officials involved in the investigation. According to the officials, while no notice has been sent to Essar, the tax department is in the process of writing to financial regulators in Mauritius to ascertain the true promoters of DH Renewables, and whether the Essar Group, or its promoters, or their relatives are behind it. Nupower is promoted by Deepak Kochhar, husband of ICICI bank CEO Chanda Kochhar.