Resolution professional of debt-ridden Videocon Industries Tuesday invited bids from prospective buyers to take control of the firm, which has interest ranging from consumer electronics to oil and gas.
In its heydays, Videocon was known for its consumer durables business. It then diversified into oil and gas, DTH and telecom sectors, with the latter two ventures proving to be unsuccessful.
The company then sold of its DTH business to Dish TV and telecom business to Airtel.
The Videocon Group is under investigation for alleged quid-pro-quo over Rs 3,250 crore loan by ICICI bank to it in 2012. The bank had also ordered an independent probe into allegations of 'conflict of of interest' and 'quid pro quo' in bank's MD and CEO Chanda Kochhar's role.
In its heydays, Videocon was known for its consumer durables business. It then diversified into oil and gas, DTH and telecom sectors, with the latter two ventures proving to be unsuccessful.
The company then sold of its DTH business to Dish TV and telecom business to Airtel.
The Videocon Group is under investigation for alleged quid-pro-quo over Rs 3,250 crore loan by ICICI bank to it in 2012. The bank had also ordered an independent probe into allegations of 'conflict of of interest' and 'quid pro quo' in bank's MD and CEO Chanda Kochhar's role.
No comments:
Post a Comment