Business/Alive News: The Mumbai Bench of the National Company Law Tribunal (NCLT) has declared former Videocon Industries promoter Venugopal Nandlal Dhoot bankrupt over a loan default of ₹12,668 crore. The order was passed on November 5, 2026, following a petition filed by the State Bank of India (SBI).
The tribunal took this step after Dhoot’s personal insolvency resolution process failed and creditors rejected his repayment proposal. The order was passed by a bench comprising Vinay Goyal and Charanjit Singh Gulati under the Insolvency and Bankruptcy Code (IBC).
SBI invoked personal guarantees
Dhoot had personally guaranteed several loans taken by Videocon Industries, including term loans, working capital…