NCLT doubts Videocon plan confidentiality

NCLT has raised doubts over ‘confidentiality’ of the liquidation valuation of assets of Videocon Industries and 12 group firms during the insolvency process.

The tribunal asked the Insolvency and Bankruptcy Board of India “to examine this issue in depth” to ensure that the confidentiality clause is followed without any compromise.

The liquidation value of Videocon Industries and 12 group firms was ₹2,568.13 crore and fair value of the assets was ₹4,069.95 crore.

The bid submitted by resolution applicant Twin Star Technologies in the resolution plan was for ₹2,962.02 crore. PTI