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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.

Aditi Singh

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.

The order was passed by a two-member bench of Member (Judicial) Suchitra Kanuparthi and Member (Technical) Chandra Bhan Singh in an application by Videocon Promoter Venugopal Dhoot.

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