Bankruptcy tribunal NCLT has raised doubts over “confidentiality” of the liquidation valuation of the assets of Videocon Industries and its 12 group companies during the insolvency process.
The tribunal has asked the Insolvency and Bankruptcy Board of India (IBBI) “to examine this issue in depth” to ensure that the confidentiality clause is followed without any compromise.
The liquidation value of Videocon Industries and its 12 group companies was Rs 2,568.13 crore and fair value of the assets was Rs 4,069.95 crore. While the bid amount submitted by Twin Star Technologies in the resolution plan was Rs 2,962.02 crore.
The registered valuers have valued the assets of the 13 companies of Videocon group, having varied business interests ran…
Read the full article at: https://www.businesstoday.in/current/corporate/nclt-raises-doubt-over-confidentiality-of-liquidation-valuation-of-videocon/story/441807.html