The National Company Law Tribunal (NCLT) has given permission to hold 13 of the 15 companies of Videocon Group together. In fact, this has allowed the settlement professional to speed up the settlement process and extract better value. The NCLT has said that it has taken this decision because of the similarity in operations of these companies. This is the first time NCLT has allowed companies of a group to stitch together. The domestic insolvency law does not say anything about integrating the accounts of the insolvency companies. The Mumbai bench of the NCLT gave this approval, citing the example of the UK and US bankruptcy law. The bench also referred to the interests of lenders and other shareholders. Tribunal judge MK Sehrawat said that we heard arguments in favor and opposition to integration. 'I think this is the right time for integration of accounts with similar operations. 
As there is no domestic law for this, I took 'guidance' from UK and US laws for this. The tribunal has appointed Mahendra Khandelwal as the settlement professional for the unified entity. The bench said that there will be a separate disposal process for two group units Trend Electronics and KAIL. Separate settlement professionals will be appointed for these units. Videocon Industries' total debt as of March 2018 was Rs 19,506 crore. Among the 40 major defaulters identified by the Reserve Bank of India in late 2016 are Videocon Industries.