From industry icon to defaulter: How Venugopal Dhoot lost his empire

As the top court cancelled all telecom licences in February 2012, Videocon Telecom had to shut shop. It was the beginning of a slide the group could never arrest

During the 80s, when founder of Videocon group Venugopal Dhoot, now 71, visited Japan for the first time to seek a partnership with Toshiba to bring colour televisions to India, he did not expect the spectacular success of his maiden venture.

Starting from his first plant in Aurangabad, Dhoot set up consumer durable manufacturing facilities all over India since the 80s. The initial products, including TVs and washing machines, received spectacular success as the Indian middle class bought these products for the first time.

In 1999, Dhoot acquired Dutch consumer products major Phillips’ manufacturing business in India to cater to