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Narendra Modi, Supreme Court to be Blamed for Bad Loans: Videocon
June 15, 2018
Domestic home appliances manufacturer Videocon which is facing insolvency prosecution initiated by public sector SBI for bad debt worth Rs. 39 billion blamed Prime Minister Narendra Modi, the Supreme Court, and the Brazilian government for the dire situation it has got itself into.
In a recent filing, Videocon said that the demonetization drive at the end of 2016 led to the massive drop in the supplies required for the manufacturing of CRT televisions which forced it to dissolve the operations altogether. It said that it also suffered losses because the Supreme Court cancelled its various licenses, and its oil-and-gas business hit a roadblock due to legal ramifications triggered by the Brazilian government.
Image Source: dnaindia.com
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