INSUBCONTINENT EXCLUSIVE:
Monday, as India seeks to recover billions of dollars in loans from the beleaguered private firm.Consumer electronics firm Videocon
financial and operational creditors.In October, SBI Caps, the investment banking arm of State Bank of India, was appointed to start the
process of valuation and monetisation of the firm's oil and gas assets overseas.SBI said it had appointed consultant Deloitte to find
buyers for Videocon's exploration assets in Brazil and Indonesia."It is a process where qualified parties from India and overseas will be
invited to bid for the assets," said a banker involved in the process, adding that expressions of interest would be received until
Indonesia, in addition to its now-defunct consumer electronics business in India.The company ventured into Brazil and Mozambique oil and gas
assets over a decade ago, buoyed by its experience in oil production in India's east coast.However, burgeoning debt forced the company to
sell its coveted asset in Mozambique to a consortium of Indian state-owned companies led by Oil and Natural Gas Corp Ltd in 2014 for $2.4
billion.Separately, Deloitte has also invited bids for selling drilling assets of Aban Offshore Ltd, an oil and gas service provider,
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