Videocon admitted to bankruptcy proceedings of â¹20,000 crore
Venugopal Dhoot-led Videocon Industries has been admitted for insolvency proceedings by the National Company Law Tribunal after a plea by lenders led by SBI. The firm owes â¹20,000 crore to various banks including â¹3,900 crore to SBI alone. Videocon's total consolidated debt is around â¹44,000 crore, but the lenders have not taken its foreign arms to the bankruptcy court.