NCLAT Stays Rejection of Talwandi Sabo Demerger

The National Company Law Appellate Tribunal stayed the NCLT’s March order rejecting Talwandi Sabo Power Ltd.’s demerger, pending a hearing on 4 August, subject to a ₹12.45 billion bank guarantee.

 

The stay relates to Vedanta Ltd.’s broader demerger plan, which includes Talwandi Sabo and four other units. NCLT had rejected the demerger over non-disclosure of a ₹12.51 billion debt to SEPCO, a China-based creditor.

 

NCLAT noted the scheme is severable and said denying a stay would impact other pending cases.