Headline • Bollywood celebs urges their fans to donate for Kerala flood• Kerala flood: Death toll rises to 324, fresh red alert in 13 districts of Kerala• Former PM Vajpayee cremated with full state of honours in Smriti Sthal• People pays tribute during Varanasi's ganga arti to Former PM Atal Bihari Vajpayee• Bollywood celebs took twitter to express their pain on Former PM's demise • Mortal remains of Former PM Vajpayee being taken to Smriti Sthal • As a mark of respect, several states declares public holiday on Atalji's demise• Neighbouring country Pakistan pays tribute to Former PM Atal Bihari Vajpayee• Huge crowd gathers at BJP HQ, pays tribute to the mortal of former PM Vajpayee• PM Modi, Rahul Gandhi and others visited Vajpayee's residence, pays tribute• The Former PM and BJP stalwart Atal Bihari Vajpayee dies at 93• Truck crushes bike rider to death in Uttar Pradesh• Gujarat's Sterling Biotech owner held in Dubai for 5000 cr fraud case• Gold and Satyameva Jayate records their highest day 1 collecttion, at the box office• Former Indian test captain Ajit Wadekar passes away at 77• School van carrying 25 childrens over-turns in farm, in Hamirpur• In Kaabul suicide bombing, 47 died and 67 injured• Vajpayee's condition worsens, leaders continue to visit ailing Former PM AT AIIMS • Kerala flood: death toll rises to 72,Kochi airport shut for four days• Kerala on red alert: CM Vijayan asks Rajnath for additional teams of Army, NDRF• Former PM Atal Bihari Vajpayee's condition critical, put on life support system• United States praises India for becoming a leading Global power• First poster of Kangana's "Manikarnika" is out on Independence day• In UP students of Islamic institute hosts flag on Independence day• CM Rawat hosts National flag on 72nd independence day in Uttrakhand


Mumbai: The Mumbai bench of the National Company Law Tribunal (NCLT) on Thursday admitted that Videocon Industries Ltd. was under the Insolvency and Bankruptcy Code. Anuj Jain from KPMG has been appointed as the interim resolution professional at the company by the NCLT.

Last year in December the insolvency petition had been filled by State Bank of India against Videocon Industries, following directions from the Reserve Bank of India. The regulator in August 2017 had sent a list of 29 stressed corporate accounts to bankers for action under the insolvency process. The RBI gave banks six months to resolve the cases outside the NCLT, failing which, the insolvency process would be initiated.

According to the bankers, the claims of financial creditors may exceed Rs 20,000 crore. The total of 27 banks consisted by Indian lending association to Videocon Industries, which includes SBI and its five associate banks. 

Sources revealed that Videocon Industries fell into financial stress after its oil business suffered losses. The company tried to sell some of its assets and repay banks loan but nothing serious materialised.

Related News

Newsflash

 

live-tv-uttrakhand

live-tv-rajasthan

Leader

  • Umesh Kumar

    CEO & Editor in chief, Samachar Plus

    Umesh Kumar', the name behind the succe...

  • Praveen Sahani

    Executive Editor

    Praveen Sahani is an eminent and well-k...

Top Story

AAP KA SHAHAR AAP KI KHABAR

Video

Our Anchor

Show

:
:
: