New Delhi: The National Company Law Tribunal (NCLT) on Tuesday deferred the Bhushan Power & Steel Ltd (BPSL) insolvency case to 30 May, when it is expected to issue directions on a plea filed by former promoter Sanjay Singal.
Singal’s plea seeks enforcement of the Supreme Court’s 2 May ruling, which ₹19,700 crore resolution plan”>quashed JSW Steel’s ₹19,700 crore resolution plan and directed NCLT to initiate liquidation proceedings.
The adjournment followed a request from Solicitor General Tushar Mehta, representing the Union government and other stakeholders, to refrain from issuing any notices yet. He urged the bench to allow Singal to identify and implead all necessary parties before the matter is formally heard.
