NCLAT order paves way for demerger of Vedanta's power business

THE National Company Law Appellate Tribunal (NCLAT) has given an interim stay on the order by the Mumbai bench of the NCLT, which rejected the demerger of the power business of Vedanta Ltd, and its merger with the resulting company Talwandi Sabo Power Ltd (TSPL).

- ENS ECONOMIC BUREAU @ New Delhi

A two-member bench wrote that it would be appropriate to grant a stay. "Thus the issues raised before us need to be considered at length and presently in view of the submissions made the scheme is severable and thus in case the stay is not granted to the impugned order it may affect the second motion application filed in respect of other three transferor companies pending in different tribunals," the NCLAT said. It has listed the matter for hearing on August