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Published: Apr 15, 2022
Updated: Apr 15, 2022
The Videocon debt resolution saga is another joke perpetrated on Indian lenders and the public. The banks have lost Rs 62,000 crore in the company and have sent the company to the bankruptcy courts.
After a prolonged litigation and sale process, Vedanta made a ludicrous proposal to buy the company’s assets for Rs 3,000 crore – which a 95 per cent haircut for the banks. NCLAT threw out Vedanta’s proposal and the Anil Agarwal company has now moved the Supreme Court.
Even as the matter is pending, Mukesh Ambani has made a pitch to buy Videocon’s oil assets while the Adani group has sent a proposal to buy its consumer durable assets. Now, as the matter is pending with Supreme Court, the entire debt resolution process has gone into cold storage.
February 15, 2025 - First Issue
Industry Review
VOL XVI - 10
February 01-15, 2025
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