Lenders led by the State Bank of India (SBI) are seeking dispensation from the RBI to restructure the debt of VOVL Ltd, formerly known as Videocon Oil Ventures Ltd. VOVL has been declared as NPA and its 180-day period for resolution plan ended on August 27, 2018, after which the SBI was required to refer it to the National Company Law Tribunal (NCLT) for initiating bankruptcy proceedings.
