The Mumbai bench of the National Company Law Tribunal (NCLT) has declared former Videocon Industries promoter and director Venugopal Nandlal Dhoot bankrupt over default of Rs 12,668.06 crore to State Bank of India (SBI).
The tribunal has admitted SBI’s bankruptcy petition and appointed a Bankruptcy Trustee to administer the proceedings against Dhoot, who had furnished personal guarantees for loans availed by Videocon Industries and its group company Videocon Telecommunications Ltd.
“Venugopal Nandlal Dhoot, the Personal Guarantor herein, is declared as Bankrupt,” said the two-member bench comprising Member (Judicial) Vinay Goel and Member (Technical) Charanjeet Singh Gulati in its Thursday order.
The tribunal directed the trustee to…