{"id":461531,"date":"2022-01-12T10:39:10","date_gmt":"2022-01-12T05:09:10","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=461531"},"modified":"2022-01-12T12:27:30","modified_gmt":"2022-01-12T06:57:30","slug":"lenders-reject-rs-2800-crore-vedanta-offer-for-lanco-unit","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/lenders-reject-rs-2800-crore-vedanta-offer-for-lanco-unit\/","title":{"rendered":"Lenders reject Rs 2,800-crore Vedanta offer for Lanco unit"},"content":{"rendered":"<p>Lenders have rejected Vedanta NSE 0.29 %&#8217;s Rs 2,800 crore offer for Lanco Amarkantak Power, a Lanco Group company that is undergoing Insolvency and Bankruptcy Code (IBC) proceedings at National Company Law Tribunal (NCLT), according to sources in the know.<\/p>\n<p>Vedanta&#8217;s offer had been put to a vote after it was found to be better than a rival offer from iLabs Group. However, its offer failed to get the requisite approval of two-thirds of the creditors who are entitled to vote in the committee of creditors meeting, according to sources.<\/p>\n<p>IBC regulations require that over two-thirds of financial creditors must vote in favour of an offer for a company&#8217;s sale to be approved.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Lenders have rejected Vedanta NSE 0.29 %&#8217;s Rs 2,800 crore offer for Lanco Amarkantak Power, a Lanco Group company that is undergoing Insolvency and Bankruptcy Code (IBC) proceedings at National Company Law Tribunal (NCLT), according to sources in the know. Vedanta&#8217;s offer had been put to a vote after it was found to be better than a rival offer from iLabs Group. However, its offer failed to get the requisite approval of two-thirds of the creditors who are entitled to vote in the committee of creditors meeting, according to sources. IBC regulations require that over two-thirds of financial creditors must [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,239,136],"tags":[],"class_list":["post-461531","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-economic-times","category-the-economic-times"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/461531","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\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=461531"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/461531\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=461531"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=461531"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=461531"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}