Coat the bottom of a large pot with the vegetable oil. Pour in the popcorn kernels, cover and set over medium-high heat. When you hear the first kernels pop, begin to shake. Continue to cook, shaking, until all the corn is popped. When you no longer hear popping, remove the heat and transfer to a large bowl.
In a pan, melt butter, add the Naagin bhoot hot sauce and stir. Drizzle over the popcorn and toss. Season with salt.