Mumbai: The National Company Law Tribunal (NCLT), Mumbai, has declared former Videocon Industries promoter Venugopal Nandlal Dhoot bankrupt over outstanding dues of ₹12,668.06 crore owed to the State Bank of India (SBI). The decision follows the rejection of a repayment proposal submitted by Dhoot, bringing his personal insolvency resolution process to an end and allowing the bank to pursue bankruptcy proceedings against him.
The tribunal passed the order on November 5, 2026, after considering SBI’s bankruptcy petition under Section 123 of the Insolvency and Bankruptcy Code (IBC), 2016. The outstanding amount includes interest and penalties calculated up to September 30, 2026.
A bench comprising Judicial Member Vinay Goel and…