The National Company Law Tribunal (NCLT) on Tuesday postponed the insolvency case of Bhushan Power & Steel Ltd (BPSL) to May 30, when it is likely to issue directions on a petition submitted by former promoter Sanjay Singal.
This comes following a request by Solicitor General Tushar Mehta, who represents the union government and various stakeholders. He requested the bench to allow Singal to identify and implead all necessary parties before the matter is formally heard.
“Let him (Singal) consider whom he would wish to join, or who are necessary parties before even notice is issued, and thereafter we can issue,” Mehta told the bench.
The NCLT’s principal bench, headed by Justice R. Sudhakar, accepted Mehta’s argument and…
