The case involves two Interlocutory Applications (IAs) before the National Company Law Tribunal (NCLT), Mumbai Bench, in the matter of Company Petition (IB) No. 2742/MB/2019. IA No. 2787/2023 was filed by the Resolution Professional (RP) seeking approval of an offer from BPRL Ventures BV to purchase the interest held by Videocon Oil Ventures Limited (VOVL/Corporate Debtor) in oil and gas assets in Brazil. IA No. 702/2024 was filed by PRIO S.A. raising objections against the relief sought in IA No. 2787/2023. The Corporate Debtor is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). The RP had issued an invitation for expression of interest (IEOI) and received multiple resolution plans, including offers from
…Videocon Oil Ventures Limited (VOVL), the Corporate Debtor, is undergoing CIRP. VOVL holds a 99% shareholding in Videocon Hydrocarbon Holdings Limited (VHHL), which in turn holds 100% of Videocon Energy Brazil Limited (VEBL). VEBL is a joint venture partner with BPRL Ventures BV in IBV Brasil Petroleo Ltda (IBV), a company incorporated in Brazil. IBV holds participating interests (PI) in offshore oil and gas assets in Brazil. BPRL and VEBL have a Quota Holders Agreement (QHA) governing their inter-se rights and obligations in IBV. The QHA grants BPRL a Right of First Refusal (ROFR) to purchase VEBL's quotas in IBV. During the CIRP, the RP issued an invitation for expression of interest (IEOI) and received offers from Eneva SA, PetroRio SA, Twin Star Overseas Limited,
…Sign in to view the parties.
The Tribunal admitted Company Petition No.…
The Applicant issued an invitation for…
The case involves two Interlocutory Applications (IAs) before the National Company Law Tribunal (NCLT), Mumbai Bench, in the matter of Company Petition (IB) No. 2742/MB/2019. IA No. 2787/2023 was filed by the Resolution Professional (RP) seeking approval of an offer from BPRL Ventures BV to purchase the interest held by Videocon Oil Ventures Limited (VOVL/Corporate Debtor) in oil and gas assets in Brazil. IA No. 702/2024 was filed by PRIO S.A. raising objections against the relief sought in IA No. 2787/2023. The Corporate Debtor is undergoing Corporate Insolvency Resolution Process (CIRP) under the Insolvency and Bankruptcy Code, 2016 (IBC). The RP had issued an invitation for expression of interest (IEOI) and received multiple resolution plans, including offers from
…Videocon Oil Ventures Limited (VOVL), the Corporate Debtor, is undergoing CIRP. VOVL holds a 99% shareholding in Videocon Hydrocarbon Holdings Limited (VHHL), which in turn holds 100% of Videocon Energy Brazil Limited (VEBL). VEBL is a joint venture partner with BPRL Ventures BV in IBV Brasil Petroleo Ltda (IBV), a company incorporated in Brazil. IBV holds participating interests (PI) in offshore oil and gas assets in Brazil. BPRL and VEBL have a Quota Holders Agreement (QHA) governing their inter-se rights and obligations in IBV. The QHA grants BPRL a Right of First Refusal (ROFR) to purchase VEBL's quotas in IBV. During the CIRP, the RP issued an invitation for expression of interest (IEOI) and received offers from Eneva SA, PetroRio SA, Twin Star Overseas Limited,
…The Tribunal admitted Company Petition No.…
The Applicant issued an invitation for…