The Mumbai bench of the National Company Law Tribunal (NCLT) has declared former Videocon Industries promoter Venugopal Nandlal Dhoot bankrupt after admitting a petition filed by State Bank of India (SBI) involving outstanding claims of ₹12,668 crore, Bar and Bench reported.
The tribunal passed the order on Thursday, Nov 5, following the rejection of Dhoot’s proposed ₹600 crore repayment plan earlier this year.
Judicial Member Vinay Goel and Technical Member Charanjeet Singh Gulati admitted SBI’s petition under Section 126 of the Insolvency and Bankruptcy Code (IBC), 2016.
The tribunal appointed Asish Narayan as bankruptcy trustee, directing that Dhoot’s estate vest in him for…