By Salmanul Farisy Jun 14, 2018 10:53:25 AM IST (Updated)
The Mumbai bench of the National Company Law Tribunal (NCLT) on Wednesday admitted the insolvency petitions filed by lenders against debt-ridden Videocon Industries Ltd.
Following directions from the Reserve Bank of India (RBI), the State Bank of India (SBI) had filed the insolvency petition against the company in December last year.
In February, 2018, Videocon Industries has approached the Bombay High Court asking for a stay on bankruptcy proceedings initiated by SBI at the NCLT.