NCLAT sets Twin Star's plan for Videocon aside, allows fresh bidding

The National Company Law Appellate Tribunal (NCLAT) on Wednesday set aside Twin Star Technologies' plan to buy Videocon Industries for ₹2,962 crore and allowed a fresh round of bidding for the company. While setting aside the plan, NCLAT said the plan had certain defects. Twin Star's plan to buy Videocon had earlier been approved by the National Company Law Tribunal.