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- (2) (Videocon Industries Limited, Gurgaon, Haryana, India) An India-based conglomerate with facilities worldwide. Founded in 1979, Videocon is involved in consumer electronics, home appliances, telecom and oil and gas.
www.pcmag.com/encyclopedia/term/videocon
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Videocon Industries Limited is an Indian multinational conglomerate, headquartered in Mumbai. [3] The company was founded in 1979, by Venugopal Dhoot. The group had 17 manufacturing sites in India and plants in Mainland China, Poland, Italy and Mexico. It was the third largest picture tube manufacturer in the world [4] valued at US$ 5.5 billion ...
- Beginning of The End
- Current Status of Videocon
- Continuous Involvement in Scams
- The Insolvency of Videocon
The downfall of Videocon derives its traces from a time when there was an immense capital requirement in the television and allied sectors, but the returns were not adequate to control the debt. So, it made business sense for Videocon to diversify into unexplored territories. This diversificationled to aggressive borrowings for the company, which l...
Videocon's current financial performance is showing a rather depressing picture: 1. The Sales growth has declined 50% over the past 5 years. 2. The company stopped being profitable in FY 2014, and its profitability has been reduced by a massive 300% over the past five years. 3. The promoters (holding around 40.6% of total shares) have pledged98.8% ...
Even when the company was at NCLT's doors for insolvency, the FIR registered by CBI just damaged its reputation. This was due to the irregularities in loans sanctioned by ICICI Bank in 2012 when Chanda Kochar was the bank's CEO. She and her husband got a part of the loan as a bribe from the promoter, Venugopal Dhoot. As mentioned above, the CBI all...
Videocon was finally admitted to the NCLTfor insolvency proceedings in 2018. The total claims among the different Videocon Group companies totalled a massive ₹ 88000 Crore, thus breaking all records of bankruptcy cases seen so far. You might be thinking that if the process commenced in 2018, it should have been finished by now. But how can we expec...
Aug 3, 2021 · The Videocon case raises several questions: Why was a deal that offered so little value accepted by the committee of creditors (CoC)? Why was Dhoot's offer overlooked? The confidentiality issue also needs examining.
Feb 13, 2020 · In 1991, they rebranded to Videocon, which became one of the most iconic consumer electronics brands in the country. But the brothers had bigger dreams. They began exploring uncharted territories and set up businesses in Oil and Gas, Telecom, Retail and DTH services.
Venugopal Dhoot's Videocon was among the first to introduce colour TV sets to India. Venugopal Dhoot, one of India's best-known business tycoons, was arrested earlier this week - nearly four years...
- Nikhil Inamdar
Aug 31, 2021 · Inside Videocon’s epic insolvency saga. The cancellation of the 2G telecom licences in 2012 dealt a major blow to Videocon, which had borrowed to acquire licenses and the interest on this debt...
Feb 15, 2017 · The Videocon case is classic of companies aggressively borrowing to expand but failing to repay. In 2016, its finance costs stood at Rs2,426 crore, primarily due to the interest paid.
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