NCLAT stays Twin Star’s Videocon takeover bid
The Hindu
Appellate body lists hearing on Sept. 7
The National Company Law Appellate Tribunal on Monday stayed industrialist Anil Agarwal’s Twin Star Technologies’ ₹2,962.02 crore-takeover bid of debt-ridden Videocon Industries. A two-member NCLAT bench headed by Officiating Chairperson Justice A I S Cheema stayed the order passed by the National Company Law Tribunal’s Mumbai bench on June 9. The appellate tribunal’s direction came over two petitions filed by unsatisfied creditors — Bank of Maharashtra and IFCI Ltd.
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