After the infamous PNB scam, a WhatsApp message triggered alarm which stated that the debt laden firm Videocon's Group chairman Venugopal Dhoot left India. However, Dhoot himself denied the reports and said he is in India and not planning to go anywhere. The State Bank of India in January referred Videocon Industries to bankruptcy court after lenders were unable to resolve its loan by December 31. A consortium of lenders have also decided to take to bankruptcy court all step-down subsidiaries of Videocon Industries in order to put in place a comprehensive resolution plan. Videocon's have an exposure of over Rs 20,000 crore, of which SBI’s dues amount to Rs 3,900 crore.

Source: dna March 09, 2018 10:41 UTC