TFIPOST हिन्दी
TFIPOST Global
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Hyderabad: BRS President K. Chandrashekar Rao

    BRS in Turmoil: Rao Siblings’ Power Struggle and Future of the Party

    Amarnath Yatra 2025: Security Measures Tightened Ahead of Pilgrimage

    Amarnath Yatra 2025: Security Measures Tightened Ahead of Pilgrimage

    BJP national in-charge of information and technology department Amit Malviya.(photo:@amitmalviya/Facebook)

    ‘Why Not Ask How Many Pak Jets India Took Out?’: BJP’s Amit Malviya Rebukes Revanth Reddy, Slams Congress Over Rafale Remarks

    ANI

    AltNews Co-founder Mohammed Zubair Deletes Tweet After ANI Defamation Case, Kunal Kamra Refuses Court’s Appeal

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Global economic outlook worsens but India seen as growth driver: WEF report

    Global economic outlook worsens but India seen as growth driver: WEF report

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Understanding the differences between BTC season and altcoin season

    Understanding the differences between BTC season and altcoin season

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    India’s Major Preparations After ‘Operation Sindoor’! Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    What’s the Kaveri Engine and Why Is Everyone Talking About It?

    What’s the Kaveri Engine and Why Is Everyone Talking About It?

    New Satellite Images Reveal 3-Meter Crater at Pakistan’s Murid Air Base

    New Satellite Images Reveal 3-Meter Crater at Pakistan’s Murid Air Base

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Elon Musk

    Elon Musk Steps Down from DOGE Role, Criticizes Trump’s ‘Big Beautiful Bill’

    Bangladesh Supreme Court Frees Jamaat Leader Azharul Islam Behind 1971 Bangladeshi Hindu Genocide

    Bangladesh Supreme Court Frees Jamaat Leader Azharul Islam Behind 1971 Bangladeshi Hindu Genocide

    Pakistan’s Nuclear Ambition: A Costly Shield Fueling Economic Woes

    Pakistan’s Nuclear Ambition: A Costly Shield Fueling Economic Woes

    UK

    UK: 50 Injured After Car Ploughs Into Crowd Celebrating Liverpool’s Premier League Victory

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    The Complete Guide to Education Loan Interest Rates in 2025

    The Complete Guide to Education Loan Interest Rates in 2025

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Cricket – More Than Just a Bat and Ball

    Cricket – More Than Just a Bat and Ball

    Lazer247 India – Best Online Sports Betting and Casino Platform

    Lazer247 India – Best Online Sports Betting and Casino Platform

    Adjustable Folding Adirondack Chair With Cup Holder – Customizable Support For Ultimate Relaxation

    Adjustable Folding Adirondack Chair With Cup Holder – Customizable Support For Ultimate Relaxation

    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
Tfipost.com
  • Premium
  • Politics
    • All
    • Analysis
    • Opinions
    • Trending
    Hyderabad: BRS President K. Chandrashekar Rao

    BRS in Turmoil: Rao Siblings’ Power Struggle and Future of the Party

    Amarnath Yatra 2025: Security Measures Tightened Ahead of Pilgrimage

    Amarnath Yatra 2025: Security Measures Tightened Ahead of Pilgrimage

    BJP national in-charge of information and technology department Amit Malviya.(photo:@amitmalviya/Facebook)

    ‘Why Not Ask How Many Pak Jets India Took Out?’: BJP’s Amit Malviya Rebukes Revanth Reddy, Slams Congress Over Rafale Remarks

    ANI

    AltNews Co-founder Mohammed Zubair Deletes Tweet After ANI Defamation Case, Kunal Kamra Refuses Court’s Appeal

    • Analysis
    • Opinions
    • Trending
  • Economy
    • All
    • Business
    • Economy1
    • Finance
    Global economic outlook worsens but India seen as growth driver: WEF report

    Global economic outlook worsens but India seen as growth driver: WEF report

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Benefits of Using a Bajaj Finserv Insta EMI Card for Shopping

    Understanding the differences between BTC season and altcoin season

    Understanding the differences between BTC season and altcoin season

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    Best ₹1 Crore Term Plans with Return of Premium: Benefits vs Cost

    • Business
    • Finance
  • Defense
    • All
    • Defence
    • Strategy
    • Weaponry
    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Top Naxal Leader Hidma Nabbed in Odisha in Coordinated Security Sweep

    Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    India’s Major Preparations After ‘Operation Sindoor’! Mock Drills to Be Held Tomorrow in States Bordering Pakistan

    What’s the Kaveri Engine and Why Is Everyone Talking About It?

    What’s the Kaveri Engine and Why Is Everyone Talking About It?

    New Satellite Images Reveal 3-Meter Crater at Pakistan’s Murid Air Base

    New Satellite Images Reveal 3-Meter Crater at Pakistan’s Murid Air Base

    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • All
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
    Elon Musk

    Elon Musk Steps Down from DOGE Role, Criticizes Trump’s ‘Big Beautiful Bill’

    Bangladesh Supreme Court Frees Jamaat Leader Azharul Islam Behind 1971 Bangladeshi Hindu Genocide

    Bangladesh Supreme Court Frees Jamaat Leader Azharul Islam Behind 1971 Bangladeshi Hindu Genocide

    Pakistan’s Nuclear Ambition: A Costly Shield Fueling Economic Woes

    Pakistan’s Nuclear Ambition: A Costly Shield Fueling Economic Woes

    UK

    UK: 50 Injured After Car Ploughs Into Crowd Celebrating Liverpool’s Premier League Victory

    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • All
    • Culture
    • Education
    • History
    • Indology
    How to Decide Between Amity and Manipal for Your Online MBA Journey

    How to Decide Between Amity and Manipal for Your Online MBA Journey

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Mughals, Delhi Sultans Out, Fresh Chapters on Indian Rulers, Mahakumbh Introduced: NCERT revises Class 7 books

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    Role of Consultants to Study in Ireland: How to Choose the Right One?

    The Complete Guide to Education Loan Interest Rates in 2025

    The Complete Guide to Education Loan Interest Rates in 2025

    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • All
    • Books
    • Cinema
    • Entertainment
    • Food
    • Games
    • Health
    • Lifestyle
    • Satire
    • Sports
    • technology
    • Travel
    Cricket – More Than Just a Bat and Ball

    Cricket – More Than Just a Bat and Ball

    Lazer247 India – Best Online Sports Betting and Casino Platform

    Lazer247 India – Best Online Sports Betting and Casino Platform

    Adjustable Folding Adirondack Chair With Cup Holder – Customizable Support For Ultimate Relaxation

    Adjustable Folding Adirondack Chair With Cup Holder – Customizable Support For Ultimate Relaxation

    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    1win कैसीनो गेम्स: जब दांव से पहले रिवाज़ बन जाते हैं आदत और खेल का हिस्सा

    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
No Result
View All Result
Tfipost.com
Tfipost.com
No Result
View All Result
  • Premium
  • Politics
  • Economy
  • Defense
  • Geopolitics
  • Knowledge
  • Law
  • Lounge

Not my fault: Videocon founder blames Supreme Court, PM Modi, Brazil for company’s losses.

Amit Agrahari by Amit Agrahari
13 June 2018
in Business
venugopal dhoot, videocon

PC: NDTV.com

Share on FacebookShare on X

Venugopal Dhoot, whose company Videocon Industries is sitting on a debt pile of 39 billion rupees ($579 million) has blamed PM Modi, Supreme Court of India and Brazil for his bad debt. The Videocon group’s core areas of business are consumer electronics and home appliances. It is one of the largest manufacturers of Cathode Ray Tubes (CRT), which is the main component of home televisions. They have recently diversified into areas such as DTH, power, oil exploration and telecommunication. The bankruptcy court has admitted an insolvency petition under the newly adopted Insolvency and Bankruptcy Code (IBC). The creditors were led by State Bank of India (SBI) which has the highest liability over the Videocon Group. The court has ordered the group of creditors to take over the management from the promoters of the company which prompted the company to file an appeal to wrest back control. According to the filing, Modi’s clampdown on cash in November 2016 choked supplies for making cathode ray tube televisions and forced it to shut the business. While its oil-and-gas business got entangled in red tape in Brazil, the telecommunications venture suffered losses after India’s Supreme Court canceled licenses.

The problem with Videocon is that it survived in the age of “crony capitalism” in the Congress-led UPA era, but is facing problems in a rule-based fair play system. Venugopal Dhoot had kept close links with politicians and political parties to get a sweet deal in a crony capitalist system. His brother Rajkumar Dhoot is a Member of Rajya Sabha from a Shiv Sena seat and had been president of ASSOCHAM. According to whistleblower Arvind Gupta, the husband of ICICI Bank CEO had made huge money through some shady deals with Videocon Group’s Venugopal Dhoot, who in turn got Rs 2810 crores worth outstanding loans by ICICI Bank to his Group declared as NPAs. The loan was issued by ICICI Bank in 2012 linked to a possible quid pro quo that Venugopal Dhoot allegedly had with Deepak Kochhar’s NuPower Renewables. CBI is investigating the case with Venugopal Dhoot and Deepak Kocchar (Husband of ICICI CEO Chanda Kocchar) and few others as the prime accused. This clearly shows the shady dealings in which Venugopal Dhoot was involved in during the UPA regime. His group got loans from banks which were later declared as Non Performing Assets (NPAs), and therefore , relieving him of the need to pay back the bank.

RelatedPosts

Finally, Kochhar couple behind bars. Time to hunt the political biggies backing them

Government sets target to resolve 9 top high priority insolvency cases by March

Power Sector seeks exemption from insolvency proceedings under IBC law

Load More

According to the filing by the group “Videocon’s energy business failed to get approvals from the Brazilian government to start its equal venture with Brazil Petroleum Ltd. In India, the company lost a revenue source when the top court in February 2012 canceled 156 licenses of various telecom operators.” Now the question is why Videocon involved itself in the 2G spectrum case where licenses were being sold illegally at throwaway prices. If the spectrum was sold on personal relationships rather than as per rules then it was poised to be canceled by the Supreme Court of India. In Brazil, the largest petroleum companies like Petrobras were found to be involved in corruption and the country’s top leaders like President Dilma Rousseff and former president Lula have been accused of graft. Therefore the Brazilian government did not approve its venture because the company with which it had equal venture was also involved in shady business dealings.

Venugopal Dhoot wants to blame others for the losses his company incurred rather than doing some introspection. The company’s shares, which have plunged a whopping 96 percent over the past five years, traded at 7.65 rupees at 12:26 p.m. in Mumbai. His company basically survived due to political connections he had which he used to influence decisions of the government and get a sweeter deal.

 The earlier governments were involved in crony capitalism rather than a law based free market, and therefore, he and Videocon were able to survive through political connections. The Modi government made the decision to transform India into a rules-based regime by implementing policies like goods and services tax (GST), debt tribunals, auction of natural resources, installing a regulator for the real estate and so on. This has not gone down well with businessmen like Venugopal Dhoot, and this the real reason behind him accusing Narendra Modi and the Supreme Court of India for the losses of his company.

Tags: Insolvencyvenugopal dhootvideocon
Share1230TweetSend
Previous Post

ED seizes under-construction mall built by Lalu Yadav and family.

Next Post

SP and BSP may divide seats among themselves. Is it a non Congress front in the making?

Related Posts

Designing For Impact: Create Exceptional Small Businesses Marketing Materials
Business

Designing For Impact: Create Exceptional Small Businesses Marketing Materials

4 May 2025

Marketing can make or break a startup or small business. As a small business owner, you may worry that...

How to Improve Your Human Resource Recruitment Process for Better Hiring
Business

How to Improve Your Human Resource Recruitment Process for Better Hiring

28 April 2025

The art of hiring the right people can make or break a company. A good human resource recruitment process attracts,...

Centre approves Rs 10,601 Crore for Assam’s Namrup-IV Fertilizer Project
Business

Centre approves Rs 10,601 Crore for Assam’s Namrup-IV Fertilizer Project

19 March 2025

The Union Cabinet, chaired by Prime Minister Narendra Modi, has approved a proposal to establish a new brownfield ammonia-urea...

Load More

Leave a Reply Cancel reply

Your email address will not be published. Required fields are marked *

I agree to the Terms of use and Privacy Policy.
This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

Currently Playing

Pakistan needs money from IMF to feed their people

Pakistan needs money from IMF to feed their people

00:15:20

Vacate PoK and more: Steps Pakistan needs to take to avoid Indian military action

00:06:36

Taking The Wire’s Propaganda Piece on VP to the Cleaners – Feat. Prof. Kapil Kumar

00:09:19

Rahul Gandhi Undermines India’s Electoral Integrity as Trump Applauds It

00:07:09

Why Pakistan army chief reminds two nation theory| what is the plan| Waqf Bill |Asim Munir| Jinnah

00:13:02
Facebook Twitter Instagram Youtube
tfipostTfipost.com
Right Wing | News Analysis | Indian Opinion
  • About us
  • Careers
  • Brand Partnerships
  • Terms of use
  • Privacy Policy
  • Sitemap

©2025 TFI Media Private Limited

No Result
View All Result
  • Premium
  • Politics
    • Analysis
    • Opinions
    • Trending
  • Economy
    • Business
    • Finance
  • Defense
    • Defence
    • Strategy
    • Weaponry
  • Geopolitics
    • Africa
    • Americas
    • Asia Pacific
    • Europe
    • South Asia
    • West Asia
  • Knowledge
    • Culture
    • History
    • Indology
  • Law
  • Lounge
    • Books
    • Cinema
    • Food
    • Health
    • Sports
    • technology
    • Travel
    • Satire
TFIPOST हिन्दी
TFIPOST Global

©2025 TFI Media Private Limited