The former Videocon promoter’s personal bankruptcy follows the rejection of his ₹600-crore repayment proposal. The case highlights how personal guarantees can make business loan defaults a personal financial liability.
By Vidhi Lalla
Venugopal Nandlal Dhoot, the former promoter and director of Videocon Industries, has been declared bankrupt by the Mumbai bench of the National Company Law Tribunal (NCLT). The order, passed on November 5, 2026, follows a petition filed by the State Bank of India (SBI) over outstanding dues of ₹12,668.06 crore, including interest and penalties.