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Liberty House moves NCLAT, seeks info on bids from Bhushan Steel lenders

9 July, 2018 10:02 AM
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Liberty House moves NCLAT, seeks info on bids from Bhushan Steel lenders

UK-based Liberty House today approached the National Company Law Appellate Tribunal (NCLAT) against the committee of creditors and resolution professional of Bhushan Power & Steel seeking information on the bid finalisation process of the firm.

In its plea, Liberty House has alleged that lenders are not sharing any information or documents related to their meeting, which is being convened today.

A two-member bench headed by Chairman Justice S J Mukhopadhaya has asked the lenders to address the grievances of Liberty House.

The appellate tribunal has also directed to list Liberty House's plea on July 12, when the main matter related to Bhushan Power & Steel Ltd (BPSL) would come up for hearing.

Earlier, lenders of BPSL had rejected the resolution plan submitted by Liberty House citing delay, following which the UK-based group had moved the National Company Law Tribunal (NCLT).

The NCLT had on April 23 directed BPSL's lenders, led by PNB, to consider the bid submitted by Liberty House.

Source: moneycontrol.com

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