Liberty House had submitted before the NCLT that RP rejected its bid to acquire Bhushan Power and Steel without even opening the seal of its offer. Photo: BloombergNew Delhi: The National Company Law Tribunal (NCLT) on Monday asked the lenders of Bhushan Power & Steel, led by Punjab National Bank (PNB), to consider the bid submitted by UK-based Liberty House for the debt-ridden company. Allowing the plea of Liberty House, the tribunal has directed the committee of creditors (CoC) to complete its resolution proceedings by 23 June. Liberty House had submitted before the NCLT that RP rejected its bid to acquire Bhushan Power and Steel without even opening the seal of its offer. Bhushan Power and Steel Ltd was among the 12 non-performing assets the Reserve Bank had referred for insolvency proceedings in June last year.

Source: Mint April 23, 2018 12:45 UTC