Dated 30 April 2019
The Hon'ble National Company Law Appellate Tribunal has, by its order dated 30 April 2019, received by the Company yesterday, inter alia suggested that the Resolution Plan as approved by the Committee of Creditors may be implemented subject to final orders to be passed by the Hon'ble NCLAT in the Appeal. However, since the implementation of the Resolution Plan would in effect be on an interim basis and could create wide ranging uncertainties around rights and liabilities of various stakeholders dealing with VIL, the Company is evaluating its options which include approaching the Hon'ble Supreme Court to seek a direction to defer the implementation till the resolution plan, as approved by CoC, is unconditionally approved.Powered by Capital Market - Live News
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