NCLAT stays Vedanta Group firm's ₹2,962-crore takeover of Videocon

The National Company Law Appellate Tribunal (NCLAT) has stayed the NCLT's order which allowed Vedanta Group firm Twin Star Technologies to takeover Videocon Industries. Twin Star had offered to pay ₹2,962 crore against creditors' admitted claims of ₹64,838.63 crore. Creditors, including Bank of Maharashtra and IFCI, had filed a petition arguing that the 96% haircut is loss of public money.