New Delhi: The National Company Law Appellate Tribunal (NCLAT) on Friday gave a go-ahead to the lenders’ meeting of debt-ridden Bhushan Power & Steel (BPSL), directing it to finalise a bid for the company.
Vacating its earlier stay, the appellate tribunal has directed the committee of creditors (CoC) of the company to consider the resolution plans submitted by three firms — Tata Steel, Liberty House and JSW Steel.
NCLAT has also directed the CoC to call all the three bidders, along with operational creditors and suspended board of directors, in the meeting.
The CoC would call for an urgent meeting to take the resolution plan for discussion and approval, said a two-member bench headed by Chairman Justice S J…
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