1. What did the tribunal decide?
On November 5, the Mumbai bench of the National Company Law Tribunal declared Venugopal Nandlal Dhoot bankrupt under the Insolvency and Bankruptcy Code. It admitted State Bank of India’s petition and appointed Asish Narayan as bankruptcy trustee to administer Dhoot’s estate.
2. Why could SBI pursue Dhoot personally?
Dhoot signed personal guarantees for credit facilities extended to Videocon Industries, including term loans, working capital and facilities linked to Videocon Telecommunications. Those guarantees gave lenders a route to demand payment from him when the borrower defaulted. The lenders invoked the guarantees in February 2018.
3. What does the ₹12,668-crore figure represent?
It is the amount…