Page 2 - Videocon Industries

NCLAT sets aside NCLT order approving Twin Star's bid for Videocon Group

NCLAT allows appeal by Bank of Maharashtra, IFCI, which had contested Twin Star's resolution plan

DoT moves NCLAT against resolution of Videocon; claims Rs 882-cr dues

The Department of Telecommunication (DoT) has moved the insolvency appellate tribunal NCLAT against the NCLT order approving the consolidated resolution plan for 13 companies of Videocon Group, including Videocon Telecommunications. The DoT, in its petition, has requested the appellate tribunal to set aside the order passed by the Mumbai bench of the National Company Law Tribunal (NCLT) on June 8, 2021 allowing the Rs 2,962-crore takeover bid by Anil Agarwal's Twin Star Technologies. DoT has submitted before NCLAT that defaulting telecom companies cannot be permitted to wriggle out of their liability by the triggering of the Corporate Insolvency Resolution Process. A three-member bench of NCLAT said the appellate tribunal has already stayed the NCLT order on July 19, 2021 by granting a "status quo ante" to be maintained and Resolution Professional will continue to manage the affairs of Videocon Industries as per provisions of the Insolvency & Bankruptcy Code. "In view of the ...

Sebi fines two individuals for not complying with summons in Videocon case

Sebi conducted an investigation between April 2017-September 2017 in the scrip of Videocon Industries for the possibility of insider trading and volume manipulation by certain entities

NCLAT asks NCLT to give hearing opportunity to two Videocon execs

NCLAT has directed NCLT to go for "fresh determination" and pass a new order after providing opportunity of hearing to two employees of Videocon, whose assets and bank accounts were frozen.

Sebi levies Rs 20 lakh fine on individual for insider trading in Videocon

Markets regulator Sebi on Friday imposed a fine of Rs 20 lakh on an individual for violation of insider trading norms in the shares of Videocon Industries Ltd.

Videocon insolvency process: BoM raises issue of breach of confidentiality

Bank of Maharashtra has raised the issue of the breach of confidentiality in the corporate insolvency resolution process of the debt-ridden group before the National Company Law Appellate Tribunal

Videocon case: Sebi slaps Rs 75 lakh fine on Venugopal Dhoot, two entities

The fines are for violating insider trading norms

Coverage ends when goods reach destination

According to the National Commission, shifting of the generator after completion of transit does not fall within the scope of the marine and transit policy

Sebi fines 8 entities for fraudulent trade in shares of Videocon Industries

Markets regulator Sebi on Monday penalised eight entities for fraudulent trading in shares of Videocon Industries Ltd. The entities are Acuity Merchants Pvt Ltd, Godavari Commercial services Pvt Ltd, Kaberi Goods Pvt Ltd, Invorex Vincom Pvt. Ltd, Coastal Fertilisers Ltd, Akansha Commodities Pvt Ltd, Messrs Agarwal Holdings and Superdeal Fincom Pvt Ltd. These are facing a fine of Rs 16 lakh, payable jointly and severally, for violation of Prohibition of Fraudulent and Unfair Trade Practices norms. The order follows an investigation conducted between April-September 2017. The probe found that these connected entities were trading on NSE and BSE during the investigation period and entered into reversal and synchronized trades. "By entering into synchronized trades in BSE and NSE, the Noticees had created a misleading appearance of trading in the scrip and generated artificial volume in the scrip," Sebi said. It further found that they had indulged in reversing their trades among ..

Videocon insolvency: Lenders make U-turn, approach NCLAT for fresh bids

Billionaire Anil Agarwal's Twin-Star Technologies had offered Rs 2,962 crore to takeover Videocon Industries, which was 4.15% of the admitted claims of Rs 64,838.63 cr of lenders

Sebi penalises 2 Videocon promoter cos for violating insider trading norms

The entities have violated Prohibition of Insider Trading (PIT) norms, according to two separate orders

Videocon Industries case: NCLAT adjourns hearing till September 20

NCLAT on Tuesday adjourned till September 20 the hearing on a batch of petitions challenging the approval for the takeover of bankrupt-Videocon Industries by Anil Agarwal's Twin Star Technologies

Vedanta's acquisition of Videocon assets may get derailed after NCLT order

Lenders in a bind as NCLT orders attachment of company and promoter assets

NCLT Mumbai orders freeze of Videocon group promoters' assets

It has directed the erstwhile promoters of Videocon group to disclose in an affidavit their moveable and immovable properties/assets

SC provides temporary relief to Airtel over Videocon's AGR dues

SC directs DoT that it shall not invoke Airtel's Bank Guarantees for 3 weeks

IFCI moves NCLT against Videocon debt resolution, wants oil assets included

IFCI, Sidbi and Bank of Maharashtra have also filed an appeal in the NCLAT against VIL's debt resolution, saying recovery is miniscule and it makes no sense to accept a 96% haircut

Videocon's Venugopal Dhoot moves NCLAT against Deloitte, CoC and Vedanta

Videocon sold at a huge discount to Vedanta, says Dhoot

Bankruptcy award: Why Videocon's oil & gas biz could come into focus

Why the group's oil and gas business could come into focus in the controversy over the bankruptcy award

Videocon lenders to eventually take only 50-55% haircut, says former CFO

While Anil Agarwal-led Vedanta Group has picked up Videocon Industries for Rs 2,962 crore, the bids for overseas assets are yet to be decided.

NCLAT stays NCLT's nod to Twinstar's resolution plan for Videocon Group

Development follows an appeal by Bank of Maharashtra, a dissenting creditors. Matter is slated to be heard on September 9