NCLT doubts Videocon plan confidentiality
The Hindu
NCLT has raised doubts over ‘confidentiality’ of the liquidation valuation of assets of Videocon Industries and 12 group firms during the insolvency process. The tribunal asked the Insolvency and Bank
NCLT has raised doubts over ‘confidentiality’ of the liquidation valuation of assets of Videocon Industries and 12 group firms during the insolvency process. The tribunal asked the Insolvency and Bankruptcy Board of India “to examine this issue in depth” to ensure that the confidentiality clause is followed without any compromise. The liquidation value of Videocon Industries and 12 group firms was ₹2,568.13 crore and fair value of the assets was ₹4,069.95 crore.The election authorities are gearing up for the counting of votes cast in the simultaneous elections to Lok Sabha and Assembly seats in Andhra Pradesh, scheduled to be held on June 4. The Collectors and Election Officers of Visakhapatnam, Anakapalli and Alluri Sitharama Raju (ASR) districts said on May 23 (Thursday) that their teams were ready for the counting of votes.
Responding to the prolonged water scarcity, the residents of the area took to the streets in protest on Wednesday. The protest, which drew attention to their plight, stopped only after the intervention of the police. It was not until 1.30 p.m. that a 4000-litre tanker was finally delivered by BWSSB, providing relief to the water-starved residents.