NCLT declares Videocon promoter Venugopal Dhoot bankrupt on SBI plea; appoints bankruptcy trustee

Mumbai: The National Company Law Tribunal (NCLT), Mumbai Bench, has declared former Videocon Industries promoter and director Venugopal Nandlal Dhoot bankrupt on a petition filed by the State Bank of India (SBI) after the failure of his personal insolvency resolution process and repayment plan.

The Tribunal, comprising Judicial Member Vinay Goel and Technical Member Charanjeet Singh Gulati, passed the bankruptcy order on November 5 under the Insolvency and Bankruptcy Code (IBC).