The Supreme Court on Monday said it will hear an appeal by Twin Star Technologies, a Vedanta group company, against the order passed by the National Company Law Appellate Tribunal (NCLAT), which had set aside the approvals accorded for the company’s takeover of the Videocon group under the bad debt resolution process.
In an oral order -- the SC did not passing a interim order -- the court said that it hopes the authorities will not proceed with the new round of bids for Videocon.
“We are not passing any interim order but please tell the authorities not to proceed with the process, we will hear the case,” Chief Justice NV Ramana told Solicitor General Tushar Mehta, who was representing the committee of creditors (CoC).
Mehta, on his part, assured the court that no fresh steps would be taken by CoC.
(Edited by : Thomas Abraham)
First Published: Feb 14, 2022 12:09 PM IST
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