Videocon Industries

Sebi imposes Rs 5 lakh fine on Venugopal Dhoot for disclosure lapses

Sebi on Friday imposed Rs 5 lakh fine on Videocon Group Founder Venugopal Dhoot for not making disclosures about his interest in Supreme Energy as well as for not disclosing that Quality Techno Advisors Pvt Ltd (QTAPL) and Credential Finance Ltd (CFL) were related parties with respect to certain transactions. The order came after Sebi conducted an examination following media reports published in March 2018 regarding certain 'quid pro quo' arrangements between Venugopal Dhoot and former Managing Director and Chief Executive Director of ICICI Bank Ltd Chanda Kochhar in lieu of grant of certain credit facilities by ICICI Bank to some entities belonging to the Videocon Group. The scope of the examination was specifically to ascertain whether Dhoot violated the provisions of LODR (Listing Obligations and Disclosure Requirements) rules and provisions of listing agreement in respect of the submissions that were required to be made by Videocon Industries to the stock exchanges. In its order

Lenders to miss March-end deadline to resolve key insolvency cases

Once an account is settled with the highest bidder paying their bid amount, then it frees part of bank's locked fund in an account which could be used for lending purposes

Videocon Group founder Venugopal Dhoot gets interim bail from Bombay HC

Dhoot approached the high court after co-accused Chanda Kochhar, former managing director and chief executive officer of the ICICI bank, and her husband were granted bail

ICICI-Videocon case: Bombay HC grants CBI 3 days to reply on Dhoot's plea

The Bombay High Court on Tuesday granted the Central Bureau of Investigation 3 days time till Friday to file its reply in a plea filed by Videocon Group Chairman Venugopal N. Dhoot

Bank loan fraud case: Bombay HC to hear Dhoot's plea against CBI arrest

The Bombay High Court will hear on Tuesday a petition filed by Videocon Group founder Venugopal Dhoot seeking to declare his arrest by the Central Bureau of Investigation in the ICICI-Videocon bank loan fraud case as "arbitrary and illegal" and to be released on bail. Dhoot's plea was mentioned by his advocate Sandeep Ladda on Monday afternoon before a division bench of Justices Revati Mohite Dere and P K Chavan, which said it would hear it on Tuesday. The same bench earlier on Monday granted interim bail to Dhoot's co-accused in the case - former MD and CEO of ICICI Bank Chanda Kochhar and her husband Deepak Kochhar. The HC, in its judgment, came down heavily on the Central Bureau of Investigation (CBI) for making the arrest of Kochhars in a "casual and mechanical" manner and without the application of mind. Dhoot was arrested on December 26, 2022, and is presently in judicial custody. In his plea, he has sought for the CBI FIR to be quashed and for the probe to be stayed, as wel

Bank fraud case: Videocon's Dhoot moves HC against 'illegal' arrest by CBI

Videocon Group founder Venugopal Dhoot, arrested by CBI in the ICICI-Videocon bank loan fraud case, on Monday moved the Bombay High Court seeking to quash the FIR, to declare his arrest as "arbitrary and illegal" and to be released on bail. Dhoot's plea was mentioned by his advocate Sandeep Ladda in the afternoon before a division bench of Justices Revati Mohite Dere and P K Chavan, which said it would hear it on Tuesday. The same bench, in the morning, granted interim bail to Dhoot's co-accused in the case namely former MD and CEO of ICICI Bank, Chanda Kochhar, and her husband Deepak Kochhar. The HC, in its judgment, came down heavily on the Central Bureau of Investigation for making the arrest in a "casual and mechanical" manner and without the application of mind. Dhoot in his plea has sought for the CBI FIR to be quashed and for the probe to be stayed, as well as his release on bail. He was arrested on December 26, 2022, and is presently in judicial custody. In his plea, Dhoot

From industry icon to defaulter: How Venugopal Dhoot lost his empire

The top court's order and cash-for-loans scandal later, rocked the group across verticals; its fate now hinges on SC's ruling on bankruptcy even as the quid pro quo case involving Kocchars goes on

CBI arrests Videocon Group founder Venugopal Dhoot in ICICI loan fraud case

Videocon founder sent to custody till December 28, along with ex-ICICI Bank CEO Chanda Kochhar and her husband

CBI arrests Videocon Chairman Venugopal Dhoot in ICICI Bank fraud case

This comes just days after the agency arrested former ICICI Bank's chief executive officer and managing director, Chanda Kochhar, and her husband, Deepak Kochhar on December 23

Videocon Insolvency: Wisdom of creditors can't fluctuate, Twinstar tells SC

Appearing for Twinstar, Senior Advocate Abhishek Manu Singhvi said their bid for Videocon Industries Limited was approved by the CoC during the insolvency process of the group

CAG to conduct special audit for DTH service providers on I&B min's orders

The audit will be conducted to ensure that the amount to be submitted to the Centre in the form of the licence fee is "correctly assessed"

5 years of IBC: Loans taken for telecom, oil assets sank Videocon

VIL's problems began after it entered the telecommunications (telecom) business and its second generation (2G)-based telecom licences were cancelled by the Supreme Court (SC) in 2012

Lenders see faster resolution of Videocon debt with three big new bidders

Govt's PLI sops encourages Adani, Jindal to show interest in VIL's consumer durable business

Adani, Jindal Power join race to buy Videocon's consumer durable business

The Adani group's surprise entry into the race has raised hopes of the lenders who are now expecting an early resolution of Videocon's Rs 64,000 crore of debt

Insolvency: Videocon lenders invite fresh expressions of interest by Feb 2

This, after the insolvency appellate tribunal rejected the approval of Rs 2,692 crore bid by Vedanta Chairman Anil Agarwal-promoted Twin Star Technologies earlier this month

Twin Star Technologies moves SC against NCLAT stay in Videocon case

The petitioners have pointed to the fact that the NCLAT order is contrary to previous Supreme Court judgments

NCLAT disposes of DoT petition against Videocon resolution plan

A two-member bench observed that the appellate tribunal earlier this month had already set aside the June 8 order passed by the Mumbai bench of the National Company Law Tribunal (NCLT)

Sensex sheds 621pts amid Omicron woes, weak global cues; Nifty below 17,750

Market participants are already concerned about the rapid global spread of the highly infectious Omicron Covid variant

NCLAT sets aside NCLT approval of Twin Star's resolution plan for Videocon

Remits matter back to Videocon's CoC for fresh bids; resolution plan approved was for only 4.15% of total outstanding claim amount and total hair cut to all creditors was 95.85%

Top headlines: Delhi HC relief for Future; NCLAT setback for Twin Star

Business Standard brings you the top headlines on Wednesday