NCLT Rejects Vedanta's Demerger Proposal Amid SEPCO's Objections

The National Company Law Tribunal (NCLT) has dismissed the demerger scheme of Talwandi Sabo Power Ltd (TSPL) following objections from creditor SEPCO. SEPCO claimed TSPL concealed liabilities, impacting creditor and public interests. The NCLT ruling pertains solely to TSPL's application, with Vedanta's other undertakings unaffected.

The National Company Law Tribunal (NCLT) has dismissed the demerger scheme filed by Talwandi Sabo Power Ltd (TSPL) after objections were raised by SEPCO, a creditor of TSPL.

The tribunal found that the power unit failed to disclose crucial financial liabilities, including SEPCO's outstanding debt of Rs 1,251 crore.

Vedanta assured stakeholders that NCLT's ruling does not affect other demerger plans, emphasizing its commitment to transparency and corporate governance.

(With inputs from agencies.)