Venugopal Dhoot strikes NCLAT towards Twin Star’s Videocon takeover bid

Venugopal Dhoot, former promoter of Videocon Group, has moved earlier than the NCLAT, difficult an order of the insolvency courtroom NCLT approving Rs 2,962 crore takeover bid by Anil Agarwal’s Twin Star Technologies for 13 firms of the debt-ridden group.
Dhoot, in his petition filed earlier than the National Company Law Appellate Tribunal (NCLAT) has requested to put aside the order handed by the Mumbai Bench of the NCLT and to direct the lenders to contemplate Rs 31,789 crore settlement plan submitted by him underneath Section 12 of the IBC.
He questioned the position performed by the Resolution Professional and stated he ought to have talked about the overseas oil and fuel property of Videocon Group within the data memorandum (Tender Form) to all of the bidders and therefore no valuation was thought of.
With PTI