MUMBAI/NEW DELHI: In a fresh twist in the insolvency proceedings of Jaiprakash Associates Ltd (JAL), the Committee of Creditors (CoC) on Monday told the appellate tribunal that a possible information leak may have prompted Vedanta Ltd to revise its bid for the bankrupt firm.
Solicitor General Tushar Mehta, appearing for the CoC before the National Company Law Appellate Tribunal (NCLAT), said, “Vedanta was lagging in the first and fifth parameter, but somehow they came to know it. And it is our case that there was some leakage which should not have happened, because that compromises the sanity and integrity of the process.”
The principal bench of…