NARCL May Bid Rs 900 Crore For Videocon Oil’s Rs 30,000 Crore Debt

Videocon Oil Ventures Ltd (VOVL), the oil and gas exploration arm of the Videocon Group, has been under insolvency proceedings since 2019 after the parent conglomerate collapsed under massive debt. With admitted claims amounting to Rs 30,640 crore, lenders have been seeking resolution for years.  

NARCL, India’s “bad bank,” has now formalized its offer of Rs 900 crore to acquire the stressed debt. This bid, though significantly lower than the admitted claims, could pave the way for a Swiss Challenge process, where other bidders may compete to offer better terms.  

Industry experts note that while the bid amount is modest compared to the debt size, it represents a pragmatic step toward resolution. The deal could help lenders recover at least a portion of their dues and close one of the most complex insolvency cases in India’s energy sector.  

Key Highlights  

• NARCL plans Rs 900 crore bid for Videocon Oil Ventures  
• Total admitted debt claims stand at Rs 30,640 crore  
• Offer may lead to Swiss Challenge process  
• Videocon Oil admitted into insolvency in 2019  
• Resolution seen as critical for lenders and energy sector  

Sources: The Economic Times, US News Hub Stories