Venugopal Dhoot challenges Vedanta’s Videocon offer at NCLAT

Venugopal Dhoot has challenged the offer of a Vedanta group affiliate for Videocon Industries at the National Company Law Appellate Tribunal (NCLAT) in a fresh twist to the controversial bankruptcy process that has been frowned upon by courts, according to people in the know.

Dhoot, who is the former promoter of the electronics to oil and gas company that also once owned telecom licences, has in the past made attempts to reclaim the company from bankruptcy through similar legal pleas though unsuccessfully.