Debt

Debt Financing

NCLT orders attachment of properties of Videocon promoters

Mint  

The Mumbai bench of the National Company Law Tribunal (NCLT) has ordered the Videocon group's bank accounts frozen and properties attached following a petition by the ministry of corporate affairs. The tribunal has asked promoter Venugopal Dhoot to disclose the moveable and immovable properties and bank accounts belonging to the group in India and abroad. The court has also directed various government entities and regulatory bodies to name the Videocon assets under their watch and for them to be frozen with immediate effect in order to be used for recovery of dues.