Venugopal Dhoot moves NCLAT against Twin Star's takeover bid for Videocon group

Venugopal Dhoot, former promoter of Videocon Group, has moved before the NCLAT, challenging an order of the insolvency court NCLT approving INR 2,962 crore takeover bid by Anil Agarwal's Twin Star Technologies for 13 companies of the debt-ridden group. Dhoot, in his petition filed before the NCLAT has requested to set aside the order passed by the Mumbai bench of the NCLT and to direct the lenders to consider INR 31,789 crore settlement plan submitted by him under section 12 of the Insolvency & Bankruptcy Code (IBC).