THE ARREST OF Venugopal Dhoot, Promoter of the Videocon Group, primarily known for consumer durables, once again throws open the fate of the business empire he once owned. Reeling under a mountain of debt, the fate of the high-profile group is now, at best, unknown.
Chanda Kochhar, ICICI Bank’s former MD & CEO, allegedly misused her position and granted loans to Dhoot in 2009 and 2011. Later, the CBI filed a case against Kochhar, her husband Deepak, and Dhoot. The allegation was that Dhoot had invested in NuPower Renewables, a company co-founded by Deepak Kochhar, after having obtained the loans. In 2012, these loans were declared as non-performing assets.
In mid-2021, Vedanta group company Twin Star Technologies had offered â¹2,962 crore for Videocon Industries against admitted claims of â¹64,938 crore of the secured financial creditors. That translates to 4.15 per cent of the claims for all creditors and 5.33 per cent for financial creditors. The liquidation value of Videocon was â¹2,568 crore and the insolvency tribunal had then expressed surprise over the similarity of the bid value and the liquidation value. Twin Star’s offer was to buy out 13 companies of the Videocon Group, which included consumer electronics, home appliances, oil and gas, telecom and electronics retail. The diversification spree and the somewhat easy access to bank loans led to the expansion of the Videocon Group. However, huge setbacks like the 2G spectrum scam followed by the cancellation of telecom licences did Dhoot in.
ãã®èšäºã¯ Business Today India ã® January 22, 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã ?  ãµã€ã³ã€ã³
ãã®èšäºã¯ Business Today India ã® January 22, 2023 çã«æ²èŒãããŠããŸãã
7 æ¥éã® Magzter GOLD ç¡æãã©ã€ã¢ã«ãéå§ããŠãäœåãã®å³éžããããã¬ãã¢ã ã¹ããŒãªãŒã9,000 以äžã®éèªãæ°èã«ã¢ã¯ã»ã¹ããŠãã ããã
ãã§ã«è³Œèªè ã§ã? ãµã€ã³ã€ã³
Pension Scheme - Safety Net
The move to introduce the UPS has evoked mixed reactions. Analysts believe its funding will have limited impact on the fiscal math
The Reit Choice?
Real Estate Investment Trusts (Reits) Are Gaining Traction As Interest Rates Stabilise. But Returns Could Be Affected By Adverse Economic Conditions And Market Volatility
CORPORATE - Calling to Account
The sudden exit of Byju's auditor BDO marks the latest in a long series of setbacks for the edtech firm
EMPLOYMENT: Skills Push
The skill development ministry plans to partner with the UGC to improve the employability of undergraduates
Building on a Vision
L&T'S CHAIRMAN EMERITUS A. M. NAIK HAS BUILT A MAMMOTH ENTERPRISE THAT IS BUILDING A NEW INDIA, FROM ITS METRO RAIL SYSTEMS TO THE RAM TEMPLE
"KYS more important than KYC"
Vijay Kedia is a renowned equity investor; the value of his listed portfolio stands at around â¹1,750 crore
ROXX STAR
THE THAR ROXX COMBINES LUXURY WITH PERFORMANCE TO MAKE A STRONG STATEMENT IN THE MID-SIZE SUV SEGMENT
HIT THE GROUND RUNNING
Smartwatches have become indispensable tools for runners, offering real-time insights into pace, distance, heart rate, and more. Here are a few you can consider
TURNING THE TABLES
INDIA'S FURNITURE MARKET IS POISED FOR A GLOBAL TAKE-OFF. ALREADY, A HOST OF GLOBAL BRANDS HAVE MADE THE COUNTRY THEIR HOME, BUT INDIAN COMPANIES ARE NOT TOO FAR BEHIND
THE EVOLUTION OF ATHERA
IDENTIFYING OPPORTUNITIES IN ADVANCE HAS STOOD THIS BENGALURU-BASED VC FUND IN GOOD STEAD. NOW, WITH A HEIGHTENED FOCUS ON TECHNOLOGY, IT WANTS TO SUSTAIN THE SUCCESS