New Delhi: The Mumbai bench of the National Company Law Tribunal (NCLT) has declared the former Videocon Industries promoter and director Venugopal Nandlal Dhoot as “Bankrupt”, admitting the petition filed by public sector lender State Bank of India over dues of Rs 12,668 crore.
The Mumbai bench of NCLT has also appointed a Bankruptcy Trustee to conduct the bankruptcy process against Dhoot, who had given personal guarantees for loan facilities availed by Videocon Industries from SBI and its erstwhile associate banks, which were merged with the leading bank.
“Venugopal Nandlal Dhoot, the Personal Guarantor herein, is declared as Bankrupt,” said an order passed by a two-member bench of NCLT on Thursday.
NCLT had directed the…