In yet another twist to the tortuous debt resolution at Videocon Group, lead consortium lender State Bank of India has approached an appeals court to direct the Committee of Creditors (CoC) to reconsider its decision to accept a 95% collective haircut on the exposure.
State Bank of India (SBI) is now seeking directions from the National Company Law Appellate Tribunal (NCLAT) to allow the resolution professional (RP) to invite a fresh expression of interest and a revised resolution plan.
