Vedanta's acquisition of Videocon assets may get derailed after NCLT order

Lenders in a bind as NCLT orders attachment of company and promoter assets

The lenders to Videocon Industries, consisting of public-sector banks, are staring at a huge loss after the Mumbai Bench of the NCLT ordered the attachment of assets of the Dhoot family (the former promoters), and other top officials. Bankers say Vedanta's plans to buy Videocon’s India assets may be derailed by fresh litigation around the company.

The lenders had claimed Rs 62,000 crore from Videocon Industries, including from its oil and subsidiary. Of this, the lenders had agreed to sell the company’s domestic assets to Twin Star Holding, a holding company of Vedanta group for Rs 3,000 crore. The lenders