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CONFIDENTIALITY CLAUSE: A LOST CAUSE?

Updated: 3 days ago

This post is authored by Kunal Gupta, a third-year student of B.A. LL.B. (Hons.) at National Law School of India University, Bangalore.


Image Credits: Investopedia


1. INTRODUCTION


Recently, the National Company Law Tribunal (“NCLT”) and the Appellate Authority (“NCLAT”) have raised doubts over the ‘confidentiality’ of the liquidation value of the assets of Videocon and 12 group companies. NCLAT in the recent order dated 19.07.2021 has put a stay on the implementation of the NCLT approved resolution plan by Vedanta group’s Twin Star Technologies to take over Videocon. The matter reached NCLAT when two