Economy
NCLT Declares Videocon's Venugopal Dhoot Bankrupt After Default
The Indian Express2h
THE BRIEF
1
The National Company Law Tribunal declared former Videocon director Venugopal Dhoot bankrupt following an unpaid debt of ₹12,668 crore to the State Bank of India.
2
Creditors rejected Dhoot's repayment proposal, which offered ₹600 crore over three years, deeming the plan contingent on unverified future cash flows.
3
The tribunal has ordered the bankruptcy trustee to distribute Dhoot's assets among creditors following his failure to present a viable repayment strategy.