NCLT Mumbai reserves order on Vedanta’s demerger proposal; petroleum ministry cites concerns
The Mumbai bench of the National Company Law Tribunal reserved its order in the matter of the proposed Vedanta demerger, which India’s petroleum and natural gas ministry has opposed.
“We heard both the parties. The matter is reserved for orders,” the newly constituted bench of Justices Nilesh Sharma and Charanjeet Singh Gulati said in an oral order on Wednesday after hearing the application filed by Vedanta seeking regulatory clearance on its proposed demerger under Sections 230-232 of the Companies Act.
