Videocon Industries case: NCLAT adjourns hearing 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.
The plan was approved through the corporate insolvency resolution process under the Insolvency and Bankruptcy Code (IBC).
A two-member NCLAT bench comprising Justice J K Jain and A K Mishra said the interim order would continue till the next date of hearing, that is September 20.
