Ex-Videocon chairman Venugopal Dhoot faces insolvency over ₹6,157cr guaranteed loans
Venugopal Dhoot, the former chairman of Videocon, is now facing insolvency proceedings after State Bank of India (SBI) said he did not repay loans worth more than ₹6,157 crore.
These massive loans were guaranteed by Dhoot for Videocon Industries and its telecom arm.
To handle the case, Asish Narayan has been brought in as the resolution professional.
Tribunal orders Asish Narayan notice, plan
The tribunal has told Narayan to put out a public notice within one week and submit a repayment plan, together with his report, within 21 days from the last date for submission of claims.
Dhoot tried to challenge SBI's claims and raise questions about deadlines, but the tribunal rejected his objections and clarified that time counts from when payments actually stop.
This move follows similar action against other Videocon family members and highlights how personal guarantees are getting more attention in big corporate loan defaults lately.