Advertisement
A two-member bench of the appellate tribunal, headed by Chairman Justice S. J. Mukhopadhaya, directed the committee of creditors (CoC) to go ahead with the resolution process.
At present, the lenders of Bhushan Power and Steel (BPSL) are in the process of finalising the bids. Earlier, lenders of BPSL had rejected the resolution plan submitted by Liberty House citing delay, following which the U.K.-based group had moved the National Company Law Tribunal (NCLT).
NCLT directive
Related Articles
Advertisement
This was challenged by Tata Steel, a BPSL resolution applicant, before NCLAT.