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Sunday, September 19, 2021

NCLAT admits Dhoot petition against Twin Star takeover bid

The appellate tribunal has issued notices to the resolution professional, lenders and Twin Star Technologies, directing them to file a reply by September 17.

By: ENS Economic Bureau | New Delhi |
September 12, 2021 1:28:59 am
“... 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, 2021,” said the NCLAT.

The National Company Law Appellate Tribunal (NCLAT) has admitted the petition filed by former Videocon group chairman and managing director Venugopal Dhoot challenging the earlier order of the insolvency court, NCLT, approving the Rs 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 Technologies, directing them to file a reply by September 17.

“… 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, 2021,” said the NCLAT.

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