{"id":420699,"date":"2021-06-16T11:07:18","date_gmt":"2021-06-16T05:37:18","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=420699"},"modified":"2021-06-16T11:07:18","modified_gmt":"2021-06-16T05:37:18","slug":"videocon-insolvency-creditors-to-take-96-haircut-on-dues-nclt-requests-increase-in-pay-out","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/videocon-insolvency-creditors-to-take-96-haircut-on-dues-nclt-requests-increase-in-pay-out\/","title":{"rendered":"Videocon insolvency: Creditors to take 96% haircut on dues; NCLT requests increase in pay-out"},"content":{"rendered":"<p>Creditors of debt-ridden Videocon Industries NSE 1.38 % Ltd will be taking nearly 96 per cent haircut on their loans and the bidder is &#8220;paying almost nothing&#8221; for the company, NCLT has observed while approving Anil Agarwal&#8217;s Twin Star Technologies&#8217; Rs 2,962.02 crore-bid under the insolvency resolution process.<\/p>\n<p>Videocon Industries and its 12 group companies had a total admitted claims of Rs 64,838.63 crore. The Mumbai bench of the National Company Law Tribunal has also observed that the resolution plan is giving 99.28 per cent to the operational creditors, which it sarcastically hinted to be as a &#8220;Hair cut or Tonsure, Total Shave&#8221;.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Creditors of debt-ridden Videocon Industries NSE 1.38 % Ltd will be taking nearly 96 per cent haircut on their loans and the bidder is &#8220;paying almost nothing&#8221; for the company, NCLT has observed while approving Anil Agarwal&#8217;s Twin Star Technologies&#8217; Rs 2,962.02 crore-bid under the insolvency resolution process. Videocon Industries and its 12 group companies had a total admitted claims of Rs 64,838.63 crore. The Mumbai bench of the National Company Law Tribunal has also observed that the resolution plan is giving 99.28 per cent to the operational creditors, which it sarcastically hinted to be as a &#8220;Hair cut or [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,191,136],"tags":[],"class_list":["post-420699","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-oil-gas-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/420699","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=420699"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/420699\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=420699"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=420699"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=420699"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}