Mumbai, Aug. 20 -- Vedanta stated today that its legal counsel will continue its submissions during the next hearing before the National Company Law Tribunal (NCLT), scheduled for September 17, after consulting all parties involved.
Vedanta issued the clarification, reacting to reports in a section of the media that the Ministry of Petroleum & Natural Gas had objected to the proposed demerger of the company before the Mumbai bench of the NCLT, citing alleged 'concealment and non-disclosure' of details.
The media reports had stated that the ministry told the NCLT that it will not be able to recover dues if the demerger is followed through and that there has been 'concealment of liabilities' and non-disclosure of key details by the company,...