India: Creditors to Videocon Group likely to appeal against insolvency tribunal’s order

India: Creditors to Videocon Group likely to appeal against insolvency tribunal’s order

Videocon group chairman Venugopal Dhoot. The firm put Kenstar on sale earlier this year in order to pare its nearly Rs40,000 crore of debt. Photo: Reuters

Lenders to Videocon Group may appeal the National Company Law Tribunal (NCLT) order passed on 12 February which said that the company’s foreign assets should be included as part of ongoing insolvency proceedings in India, said two people familiar with the matter.