Reconsideration after selection of bids possible under law: Videocon lenders to NCLAT
The Hindu
Twin Star Technologies had earlier emerged as the winning bidder for 13 companies of the Videocon group
Lenders to Videocon group on October 6 requested the insolvency appellate tribunal bid for the debt-laden group.
Twin Star Technologies had earlier emerged as the winning bidder for 13 companies of the Videocon group.
Solicitor General of India Tushar Mehta, representing the Committee of Creditors (CoC) of Videocon Industries, during the proceedings at NCLAT requested it "to restore the status quo ante, so as to put us (lenders) in a position we were on December 11, 2020." On December 11, the CoC's voting process was completed and Twin Star's resolution plan was approved.
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