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Videocon Insolvency: Next Steps As Resolution Pends
NCLAT's stay on the Videocon resolution could spur lenders to seek a higher payout from Anil Agarwal's Twin Star.
23 Jul 2021, 04:34 PM IST
The resolution process at Videocon Industries Ltd. hit unexpected turbulence after an appeals tribunal stayed implementation of billionaire Anil Agarwal-owned Volcan Group’s resolution plan. Bankers are now keen on further negotiating the repayment schedule proposed by the buyer.The intervention by the National Company Law Appellate Tribunal may spur the committee of creditors to revise their view on Volcan’s arm Twin Star Technologi...
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