NCLAT stays NCLTs nod to Twinstars resolution plan for Videocon Group – Business Standard

Development follows an appeal by Bank of Maharashtra, a dissenting creditors. Matter is slated to be heard on September 9

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NCLAT|NCLT|Videocon Industries

The National Company Law Appellate Tribunal (NCLAT) has stayed the approval granted by the Mumbai bench of the National Company Law Tribunal (NCLT) to the resolution plan submitted for the beleaguered Videocon Group by Twinstar Technologies, a promoter entity of the Vedanta Resources group. This follows an appeal by Bank of Maharashtra, one of the dissenting creditors. The matter is slated to be heard on September 9.

Last month, the NCLT had approved Twinstar’s resolution plan but had raised concerns that the s…

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