NCLT permits inclusion of foreign oil & gas assets of Videocon in the ongoing insolvency proceeding

The order was passed in an application by Videocon Promoter Venugopal Dhoot.
NCLT permits inclusion of foreign oil & gas assets of Videocon in the ongoing insolvency proceeding
Oil Rigs

The National Company Law Tribunal (NCLT) has ruled that the foreign assets and properties of the Videocon Group, which are held through its foreign oil & gas subsidiaries, shall be deemed to be the property of Videocon Industries Ltd for the purpose of its ongoing insolvency resolution process.

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