India, Nov. 6 -- The Mumbai bench of the National Company Law Tribunal (NCLT) has declared former Videocon Industries promoter and director Venugopal Nandlal Dhoot bankrupt after admitting a petition filed by the State Bank of India (SBI) over outstanding dues of Rs12,668 crore.

The tribunal also appointed Asish Narayan as the Bankruptcy Trustee to oversee the proceedings against Dhoot, who had provided personal guarantees for credit facilities availed by Videocon Industries from SBI and its erstwhile associate banks.

"Venugopal Nandlal Dhoot, the Personal Guarantor herein, is declared as Bankrupt," the two-member NCLT bench said in an order passed on Thursday.

The tribunal directed the Bankruptcy Trustee to issue a public notice invit...