MUMBAI: A dedicated bankruptcy court finalising the insolvency of Bhushan Power and Steel has asked the resolution professional (RP) to submit his stand by March 2 on opening the Liberty House bid that came in after the deadline for the debt-laden company had ended.
UK-based Liberty House is also keen to buy Bhushan Power and Steel, for which the Tatas have emerged the highest bidder at Rs 24,000 crore. The counsel for Tata Steel was also present at the hearing Monday at the National Company Law Tribunal (NCLT) and pushed for the rival bid to be not opened and considered. Tata Steel was represented by Abhishek Singhvi.
The next hearing is scheduled March 5. “The matter is in the courts. The tribunal has heard us, and the RP…
Read the full article at: https://economictimes.indiatimes.com/industry/indl-goods/svs/steel/bhushan-insolvency-process-nclt-asks-rp-to-submit-stand-on-liberty-bid-by-march-2/articleshow/63086121.cms
