Corporate insolvency: NCLAT dismisses plea against Nuvoco’s Vadraj acquisition; tribunal backs NCLT approval of Rs 1,800 cr resolution plan

The National Company Law Appellate Tribunal (NCLAT) has dismissed an appeal challenging the acquisition of Vadraj Cement by Nirma group company Nuvoco Vistas Corporation, upholding the resolution plan approved earlier by the National Company Law Tribunal (NCLT).The Delhi-based principal bench of NCLAT affirmed the April 1, 2025 order of the Mumbai NCLT, which had cleared Nuvoco Vistas’s Rs 1,800 crore plan for the Gujarat-based cement maker. The bid was implemented through subsidiary Vanya Corporation and had received unanimous backing from the Committee of Creditors (CoC), PTI reported.The two-member bench comprising Chairperson Justice Ashok Bhushan and Member (Technical) Barun Mitra rejected an appeal filed by an employee and…