NCLAT Rejects Inclusion of Foreign Oil Assets in Videocon Insolvency Case
The National Company Law Appellate Tribunal (NCLAT) officially rejected a plea by Venugopal Dhoot, the former promoter of Videocon Industries, to include the company’s overseas oil and gas assets within its ongoing domestic insolvency proceedings. The ruling, delivered in New Delhi this week, clarifies that foreign assets held by independent subsidiaries remain distinct from the…