DishTv may have declined but future of Videocon isn't Good
[font=Raleway, Georgia, serif]Banks ask Videocon to sell some assets to tide over Rs 43,000 crore debt[/font]
[font=Raleway, Georgia, serif]Banks are putting pressure on the promoters of debt-laden Videocon Industries Ltd to strip some of its assets in order to lighten its debt burden of over Rs 43,000 crore as the consumer electronics-to-energy major has slipped into financial stress amid aggressive diversification.[/font]
[font=Raleway, Georgia, serif]Keeping a hawk eye on the company's repayment schedule, banks have identified businesses that the group could put up for sale. The Dhoots have been asked to monetise the Kenstar brand from its consumer electronics division, hive off real-estate assets, sell a part of their overseas assets in oil and gas, and get rid of their DTH business.[/font]