 "Videocon")
Indian lenders are set to miss the March-end deadline for the resolution of Videocon Industries with the NCLT (National Company Law Tribunal) adjourning the hearing on Vedanta offer yet again. Banks had claimed a massive Rs 46,000 crore from the Videocon group companies after it was sent for debt resolution and are awaiting resolution since December 2017.
In December last year, Vedanta had won the race to acquire Videocon Industries after banks sought consolidated plan from bidders. While Vedanta's offer of Rs 3,000 crore was far below the expectations of lenders, there were no other attractive bids.
A banker close
