New Delhi: The Supreme Court on Tuesday agreed to hear Videocon founder Venugopal Dhoot‘s plea against an NCLAT order upholding separate insolvency proceedings for two group entities – Videocon Industries Ltd. and Videocon Oil Ventures Ltd.
A bench of Justices P S Narasimha and Alok Aradhe issued notice on the plea of Dhoot and posted the matter for further hearing on August 10.
Dhoot has challenged a May 14 order of the National Company Law Appellate Tribunal (NCLAT), which set aside an earlier order of the National Company Law Tribunal (NCLT) that had directed clubbing of the two cases.
The appellate tribunal had said that creditors of Videocon Industries Ltd. (VIL) and Videocon Oil Ventures Ltd. (VOVL) had intended the corporate…