Singapore-based Avista Advisory, founded by Rajiv Kochhar (in pic) is currently under the CBI scanner in connection with ICICI Bank’s Rs 3,250 crore loan to the Videocon Group in 2012. One of the new members of the Banks Board Bureau (BBB) appointed Thursday by the government was on the three-member advisory board of Singapore-based Avista Advisory, founded by Rajiv Kochhar, till earlier this week. Avista Advisory is currently under the CBI scanner in connection with ICICI Bank’s Rs 3,250 crore loan to the Videocon Group in 2012. Avista Advisory got the mandate to restructure foreign currency-denominated debt deals worth over $1.7 billion of seven companies over the last six years. In at least one of these deals, ICICI Bank was the lead bank of the lenders.

Source: Indian Express April 13, 2018 00:10 UTC