New Delhi, Nov. 12 -- The Mumbai bench of the National Company Law Tribunal reserved its order in the matter of the proposed Vedanta demerger, which India's petroleum and natural gas ministry has opposed.

"We heard both the parties. The matter is reserved for orders," the newly constituted bench of Justices Nilesh Sharma and Charanjeet Singh Gulati said in an oral order on Wednesday after hearing the application filed by Vedanta seeking regulatory clearance on its proposed demerger under Sections 230-232 of the Companies Act.

During the hearing, the ministry of petroleum and natural gas cited its concerns over potential financial risks after the Vedanta demerger, misrepresentation of the country's hydrocarbon assets, and insufficient di...