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Jaswanth Jegan

Stealth • 4m

"Industry Titan to cautionary tale” Billions to bankruptcy #9 Videocon was founded by Venugopal Dhoot in 1986 as a company focused on manufacturing and assembling television.Soon they became well known for affordable and reliable consumer electronics. In 2000’s Videocon diversified into various sectors, including home appliances (refrigerators, washing machines, air conditioners), oil and gas, power, telecom and DTH services.They expanded internationally by acquiring Thomson SA and Daewoo Electronics in 2006. The electonics and telecom market became more competive,rapid expansions and diversification led to a significant accumulation of debt In the early 2010s Videocon's debt became unsustainable. The company started defaulting loans.Also the founder was involved in a scam with ICICI Bank CEO. In 2018 Videocon filed for Bankruptcy.The company's assets were put up for sale to repay loans.Vedanta Group acquired Videocon Group's assets in 2021.

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