This refers to a Financial Express story titled "Videocon Leasing faces 15-day deadline" published yesterday. KG Denim, one of the companies mentioned in the story as having owed money to Videocon, has clarified in a letter that "we have not borrowed any loan or taken any lease finance or had any dealing with Videocon Leasing and as such do not owe them any money."

Financial Express would like to clarify that the reference to KG Denim was based entirely on a statement made by Videocon group chairman Venugopal Dhoot in the course of an interaction on the subject on May 15. Dhoot mentioned KG Denim among others as firms whose obligations had been outstanding at some point of time but these firms had since repaid Videocon.

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