Videocon Industries case: NCLAT adjourns hearing; stay on resolution plan to continue till September 20

The National Company Law Appellate Tribunal (NCLAT) on Tuesday adjourned till September 20 the hearing on a batch of petitions challenging the approval for the takeover of bankrupt-Videocon Industries by Anil Agarwal’s Twin Star Technologies.

Through an interim order on July 19, the appellate tribunal had stayed the implementation of the resolution plan for Rs 2,962.02 crore-takeover of 13 Videocon group companies.