Lenders keep Videocon, Jaypee out of insolvency process

Lenders send most companies from RBI's second list to NCLT

Lenders have decided to keep Videocon Industries, and Jaiprakash Associates out of the insolvency process as these companies are in advanced stage of debt resolution. 

A senior official of a public sector bank said Videocon Industries was not taken to the NCLT because it was close to the resolution of its  Rs 21,500-crore debt and because it had sold its Kenstar brand and corporate headquarters to repay loans. As per Videocon officials, its debt worth Rs 23,000 crore is housed with its oil subsidiary - Videocon Hydrocarban which has not defaulted on its loans. 

Videocon was among the 28 companies