News Details

( 10 Aug 2018)
Vedanta - National Company Law Appellate Tribunal ('NCLAT') Approves The Eligibility Of The Company Under Insolvency And Bank

Further to our letters referred above, we wish to inform you that the National Company Law Appellate Tribunal ('NCLAT') vide its order dated today, August 10, 2018 has ruled that Vedanta Limited (the 'Company') was eligible to bid for Electrosteel Steels Limited and is not barred by Section 29A(d) of Insolvency and Bankruptcy Code. NCLAT further declined to interfere with the approval of the Resolution Plan by the National Company Law Tribunal, Kolkata vide its order dated April 17, 2018.