Vedanta announces that the National Company Law Appellate Tribunal (NCLAT) has set aside a previous order rejecting the scheme application filed by Talwandi Sabo Power Limited (TSPL). The NCLAT order, dated September 15, 2025, allows the National Company Law Tribunal (NCLT) to proceed with the scheme of arrangement. This decision impacts Vedanta and its subsidiaries, including Vedanta Aluminium Metal Limited and Malco Energy Limited.
NCLAT Sets Aside Order
The National Company Law Appellate Tribunal (NCLAT) has issued an order on September 15, 2025, effectively reviving the scheme application for Talwandi Sabo Power Limited (TSPL). This decision reverses the prior rejection by the National Company Law Tribunal (NCLT), paving the way for further consideration of the proposed scheme.
Implications for Vedanta and Subsidiaries
The scheme of arrangement involves Vedanta Limited along with its key subsidiaries. These include Vedanta Aluminium Metal Limited (VAML), Talwandi Sabo Power Limited (TSPL), Malco Energy Limited (MEL), and Vedanta Iron and Steel Limited (VISL). The NCLAT’s decision allows the NCLT to reassess the scheme’s viability and potential benefits for all involved parties.
Next Steps for the Scheme
With the NCLAT order in place, the NCLT is now authorized to proceed with the applications related to the scheme. This includes the potential for convening meetings and making further decisions within a week from the receipt of the order, advancing the process towards a final resolution. This development marks a significant step forward in the ongoing scheme of arrangement.
Source: BSE
