NCLT declares Videocon's Dhoot bankrupt over Rs.12,668 cr SBI dues
new delhi, Nov. 7 -- The National Company Law Tribunal (NCLT) on Thursday declared Videocon promoter Venugopal Dhoot bankrupt over dues of Rs.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.
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 and submit a preliminary report within 90 days.
Dhoot's bankruptcy estate will vest with the trustee, who will administer the assets and distribute the recoveries among creditors as per the Insolvency and Bankruptcy Code (IBC)...
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