The Mumbai bench of the NCLT has declared former Videocon promoter Venugopal Dhoot bankrupt after admitting State Bank of India's petition over outstanding dues of Rs 12,668 crore. The order follows creditors' rejection of Dhoot's Rs 600-crore repayment plan in July. The tribunal appointed Asish Narayan as bankruptcy trustee, directing that Dhoot's estate vest in him for distribution among creditors.
NCLT declares Videocon's Venugopal Dhoot bankrupt over SBI dues
Source: Moneycontrol