NCLAT admits Dhoot’s petition against Anil Agarwal’s Twin Star takeover bid
The National Company Law Appellate Tribunal (NCLAT) has admitted the petition filed by former Videocon group Chairman and Managing Director Venugopal Dhoot challenging the earlier order of the insolvency court NCLT approving Rs 2,962 crore takeover bid for its 13 group companies by Anil Agarwal’s Twin Star Technologies.
The appellate tribunal has issued notices to the resolution professional, lenders and Twin Star Technologies directing them to file a reply by September 17.
“We have considered the submissions of various parties. We admit the appeal and the respondents are directed to file their reply by September 15, 2021 and, thereafter, the rejoinder, if any, be filed by September 17, 2021,” said the NCLAT.
