UK-based Liberty House moves NCLAT, seeks info on bids from Bhushan Power & Steel lenders

UK-based Liberty House on Monday approached the National Company Law Appellate Tribunal (NCLAT) against the committee of creditors and resolution professional of Bhushan Power & Steel seeking information on the bid finalisation process of the firm

Press Trust of India July 09, 2018 15:05:58 IST
UK-based Liberty House moves NCLAT, seeks info on bids from Bhushan Power & Steel lenders

New Delhi: UK-based Liberty House on Monday approached the National Company Law Appellate Tribunal (NCLAT) against the committee of creditors and resolution professional of Bhushan Power & Steel seeking information on the bid finalisation process of the firm.

In its plea, Liberty House has alleged that lenders are not sharing any information or documents related to their meeting, which is being convened on Monday.

UKbased Liberty House moves NCLAT seeks info on bids from Bhushan Power  Steel lenders

Representational image. Reuters.

A two-member bench headed by Chairman Justice S J Mukhopadhaya has asked the lenders to address the grievances of Liberty House.

The appellate tribunal has also directed to list Liberty House's plea on 12 July, when the main matter related to Bhushan Power & Steel Ltd (BPSL) would come up for hearing.

Earlier, lenders of BPSL had rejected the resolution plan submitted by Liberty House citing delay, following which the UK-based group had moved the National Company Law Tribunal (NCLT).

The NCLT had on 23 April directed BPSL's lenders, led by PNB, to consider the bid submitted by Liberty House.

This order was later challenged by Tata Steel, another resolution applicant of BPSL, before NCLAT, which is listed on 12 July for hearing.

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