NEW DELHI: A single court in Mumbai will hear matters pertaining to bankruptcy proceedings of 15 Videocon group companies pending in multiple courts, the National Company Law Tribunal (NCLT) ruled on Wednesday.
NCLT president, Justice MM Kumar, directed that all insolvency proceedings initiated by the State Bank of India against the Videocon group be adjudicated upon by the same bench that admitted an insolvency plea against Videocon Industries Limited, groups parent company, in June this year.
The petition for insolvency proceedings against Videocons parent was admitted by the court of Justice MK Shrawat at NCLT Mumbai this year.
The remaining matters are likely to get consolidated at the same bench. This is the first such instance sinc…
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