The former promoters of Bhushan Steel and Power Ltd (BSPL) on Monday requested the Supreme Court to list their review petition against the company’s liquidation order for an open court hearing.
The petition challenges the top court’s May 2 verdict that set aside JSW Steel’s resolution plan and ordered liquidation of BSPL under the Insolvency and Bankruptcy Code (IBC).
A bench led by Chief Justice B R Gavai, along with Justice K Vinod Chandran, heard the mention by senior advocate Vikas Singh, who appeared for BSPL’s former promoters. The petitioners include Sanjay Singhal and his family, father Brij Bhushan Singal and brother Neeraj Singal.
Singh submitted that the liquidation value assigned to BSPL’s assets was “very low”…