One of the major electronics brand in India – Videocon has come to a stage of dissolving, with bankruptcy and insolvency petitions filed by the lenders, the once reliable company of Dhoot family. Videocon
which was once on the heights has now become the second company that RBI has decided to put on auction and sell to a new owner.
It would be painful for Venugopal Dhoot to see all this happen since he raises the first company to manufacture colored televisions in India.
Videocon had a wide range of products and the firm hold on the market, but gradually its debt increased to an all-time high of 38,000 crores and the company fell close to shut down.
The case study of this company would be really fascinating since a company which did not fall behind in innovation, was good enough with customer service and did not stick to one single domain could lose its existence over a period of time.
Dhoot explored DTH services as well as an oil and gas business, along with the established electronic stuff like washing machines, television set etc.
The harsh reality of such an entrepreneur is that not only he sold his telecom business to Airtel, but is currently in a state of insolvency.