The National Company Law Appellate Tribunal (NCLAT) has stayed Vedanta Group’s winning bid for Videocon Industries.

The move follows an appeal by dissenting creditors who were unhappy with the value realised through the resolution.

In this regard, NCLAT stayed the implementation of the resolution plan and adjourned the matter to September 7, 2021 till which date the company will be continued to be managed by the resolution professional.