Industrialist Venugopal Dhoot, the personal guarantor to the credit facilities availed by Videocon Industries Ltd (VIL), has been declared bankrupt by the National Company Law Tribunal’s (NCLT) Mumbai Bench.This NCLT order follows a petition filed by State Bank of India (SBI) under Section 123 of the Insolvency and Bankruptcy Code (IBC), 2016, seeking to initiate the bankruptcy process against the personal guarantor. The NCLT has admitted the bank’s petition.Dhoot is the erstwhile promoter and director of V ...

The National Company Law Tribunal (NCLT), Mumbai, has declared Videocon promoter Venugopal Dhoot bankrupt over dues of ₹12,668 crore claimed by State Bank of India (SBI). “Venugopal Nandlal Dhoot, the personal guarantor herein, is declared as bankrupt,” the NCLT Mumbai bench said in its order on Thursday.The tribunal appointed Asish Narayan as the bankruptcy trustee and directed Dhoot to submit details of his financial position within seven days. The trustee has been directed to invite claims from creditors ...