Off the trapeze: The rise and fall of Venugopal Dhoot
Executive Brief • Key Highlights
Fast factual intelligence distilled for busy investors, executives, and answer bots:
- ✓The National Company Law Tribunal declared Videocon Group promoter Venugopal Dhoot bankrupt.
- ✓Once a household name for televisions and appliances, Dhoot now faces a Rs 12,668 crore claim from the State Bank of India.
- ✓He once said, "If you fail, you will fall," a prophecy for his steep business decline.
Story at a Glance
- Category
- Indian Markets
- Reported By
- Financial Express
- Reading Speed
- 5 Minute(s)
- Market Focus
- India Economy
You know, business is actually like a circus where an artist moves from one trapeze to another. If you fail, you will fall." Venugopal Dhoot said this years ago, in the easy, reflective way he had with journalists. Today it reads almost like a prophecy.
The promoter of the Videocon Group, whose televisions, refrigerators and washing machines once stood for middle-class aspiration, has been declared bankrupt by the National Company Law Tribunal (NCLT). That makes him one of the most prominent industrialists to meet this fate under the Insolvency and Bankruptcy Code (IBC), and the State Bank of India is pursuing him for Rs 12,668 crore. Few falls in Indian business have been steeper.
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