Vedanta Limited has announced that the Mumbai bench of the National Company Law Tribunal (NCLT) has approved the scheme of arrangement involving Talwandi Sabo Power Limited (TSPL). The approval includes the dispensation of the meeting for equity shareholders of TSPL and directs TSPL to convene meetings for secured and unsecured creditors within 90 days of October 17, 2025.
NCLT Order on Scheme of Arrangement
Vedanta Limited announced updates regarding the Scheme of Arrangement involving inter alia Vedanta Limited (VEDL), Vedanta Aluminium Metal Limited (VAML), Talwandi Sabo Power Limited (TSPL), Malco Energy Limited (MEL), and Vedanta Iron and Steel Limited (VISL). The National Company Law Tribunal (NCLT), Mumbai bench, issued an order on October 17, 2025, regarding the proposed scheme.
Key Directives from NCLT
The NCLT order included the following key directives:
- Dispensation of the meeting of equity shareholders of TSPL.
- TSPL is directed to convene meetings of its secured creditors and unsecured creditors within 90 days from the date of receipt of the order (i.e., October 17, 2025).
Background of the Scheme
This development follows previous directions from the National Company Law Appellate Tribunal (NCLAT) as per the order dated September 15, 2025. The arrangement involves several Vedanta group companies and their respective shareholders and creditors.
Next Steps
Details regarding the relevant meetings, including the date, casting vote procedures, and arrangements for attending via video conferencing or other audio-visual means, will be provided in the forthcoming meeting notices.
Source: BSE