Don’t sell Videocon’s assets, SBI told

Mumbai: The NCLT has asked SBI not go ahead with its plans to sell the overseas oil & gas assets of Videocon Industries in its bid to recover some of their dues from the group. Asking for maintaining the status quo, the NCLT said if SBI is allowed to execute the sale as advertised, the Videocon Group may suffer an irreparable losses if this tribunal in future takes a view that the assets in question belong to or owned by the group. PTI

from The Tribune https://ift.tt/2LJMHBN
via Today’s News Headlines