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Videocon Group Companies Taken to Bankruptcy Court by SBI-Led Banks
May 08, 2018
More than a dozen Videocon group companies that are under a debt of Rs. 13,000 crores have been dragged to the National Company Law Tribunal. Several lenders led by public sector State Bank of India (SBI) have filed insolvency petitions against the same.
According to people aware of the developments, the debts have been divided into four groups to facilitate the resolution process.
Some of the companies against which the petitions have been filed include Value Industries, PE Electronics, and Trend Electronics.
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