The National Company Law Tribunal (NCLT) on Tuesday deferred liquidation proceedings for Bhushan Power and Steel Ltd (BPSL) till August, following a 26 May Supreme Court order directing status quo in the matter.
“In the wake of the Supreme Court order, hearing stands deferred till 1 August,” the NCLT-Delhi said.
The Supreme Court on Monday granted interim relief to JSW Steel, which had sought a pause on the BPSL liquidation proceedings to file a review petition challenging the top court’s 2 May verdict.
That ruling quashed JSW’s ₹19,300 crore resolution plan for the bankrupt steel company and ordered its liquidation.
The Supreme Court allowed JSW to file the review petition within the statutory limitation period, noting that…
