Photo: Shendrew Balendran/MintMumbai: Liberty House Group, the UK-based metals company controlled by Sanjeev Gupta, has requested the National Company Law Tribunal (NCLT) to uphold the validity of its bid for Bhushan Power and Steel Ltd. Liberty House approached NCLT on 22 February following the rejection. Mahender Khandelwal, the resolution professional for Bhushan Power, declined to comment. Liberty House has also contended that the committee of creditors should have the ultimate right to reject the bid and not the resolution professional. The case filed by Liberty House is likely to set a benchmark for other cases.

Source: Mint February 25, 2018 18:22 UTC