NCLAT admits Dhoot petition against Twin Star takeover
The Hindu
The National Company Law Appellate Tribunal (NCLAT) has admitted a petition filed by former Videocon group CMD Venugopal Dhoot challenging an earlier order of the insolvency court NCLT approving a ₹2,
The National Company Law Appellate Tribunal (NCLAT) has admitted a petition filed by former Videocon group CMD Venugopal Dhoot challenging an earlier order of the insolvency court NCLT approving a ₹2,962 crore takeover bid for its 13 group companies by Anil Agarwal’s Twin Star Technologies. The appellate tribunal has issued notices to the resolution professional, lenders and Twin Star directing them to file a reply by September 17. “We have considered the submissions of various parties. We admit the appeal and the respondents are directed to file their reply by September 15, 2021, and, thereafter, the rejoinder, if any, be filed by September 17,” it said.
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