Videocon promoters to pump in Rs 3,000 cr more equity amid insolvency fears

Apart from its Kenstar brand, the firm plans to sell assets to reduce its Rs 22,000-cr domestic debt

With banks threatening to send consumer durables maker Videocon Industries to the National Corporate Law Tribunal (NCLT) under the insolvency and bankruptcy code, the promoters of Videocon Industries plan to invest Rs 3,000 crore more equity into the company.

This exercise would be apart from the company taking steps on its own to sell assets worth Rs 10,000 crore to reduce its domestic debt worth Rs 22,000 crore. The company says its overseas debt, which is worth another Rs 22,000 crore, is backed by global oil assets and it does not foresee any problem servicing its overseas loans. The company