Business · 6 Nov
NCLT declares Videocon's Venugopal Dhoot bankrupt over Rs 12,668 crore guarantee dues
AI summaryThe Mumbai bench of the National Company Law Tribunal (NCLT) declared Venugopal Dhoot bankrupt on an SBI petition for Rs 12,668 crore in guarantee dues. The tribunal appointed Asish Narayan as the bankruptcy trustee to administer Dhoot's estate for his creditors. The bankruptcy order follows the failure of Dhoot's personal insolvency resolution process, which was rejected after creditors found his proposed repayment plan unviable.
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