Vedanta Limited informed the exchanges that the National Company Law Appellate Tribunal (NCLAT) has set aside an earlier order by the National Company Law Tribunal (NCLT), Mumbai, which had rejected the scheme of arrangement involving Talwandi Sabo Power Limited (TSPL).
The disclosure, made under Regulation 30 of SEBI (Listing Obligations and Disclosure Requirements) Regulations, 2015, noted that the appeal was filed by TSPL after the NCLT order dated March 4, 2025 had rejected the proposed scheme. The scheme covered Vedanta Limited, Vedanta Aluminium Metal Limited, Talwandi Sabo Power Limited, Malco Energy Limited, Vedanta Iron and Steel Limited, and their respective shareholders and creditors.
According to Vedanta, the NCLAT in its order dated September 15, 2025 (uploaded on September 16, 2025), observed that the matter had been amicably settled between TSPL and Sepco Electric Power Construction Corporation, the respondent in the case. The terms of settlement included Sepco’s confirmation that it has no rights or claims in respect of TSPL or the scheme and that it would not raise any objections to the approval of the scheme.
Following the settlement, NCLAT directed that the NCLT may now proceed with the first motion applications and decide on convening or dispensing with meetings of shareholders and creditors within a week from receipt of its order. It also directed the return of bank guarantees provided earlier by TSPL.
Vedanta confirmed that the NCLAT order effectively clears the way for NCLT to move forward with the scheme of arrangement process.
Disclaimer: This article is based on official exchange filings and tribunal orders. It is provided for informational purposes only and should not be construed as investment advice. Readers are advised to consult certified financial advisers before making any investment decisions.
