Tata Steel Limited, a resolution applicant for Bhushan Power & Steel Limited (Corporate Debtor), appealed an order by the Adjudicating Authority (NCLT) directing the Committee of Creditors (CoC) to consider a resolution plan submitted by Liberty House Group Pte. Limited. Tata Steel challenged the Adjudicating Authority's decision, arguing that Liberty House failed to meet pre-qualification criteria and was given undue opportunities. JSW Steel also submitted a resolution plan. The CoC allowed all three resolution applicants (Tata Steel, Liberty House, and JSW Steel) to submit improved financial offers. Tata Steel then filed an appeal to restrain the Resolution Professional and CoC from considering the improved financial offers, without including JSW Steel as a
…Bhushan Power & Steel Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP). Tata Steel Limited, Liberty House Group Pte. Limited, and JSW Steel Limited submitted resolution plans. Tata Steel, as a resolution applicant, challenged an order by the Adjudicating Authority (NCLT) directing the Committee of Creditors (CoC) to consider Liberty House's resolution plan. Tata Steel argued Liberty House failed to meet pre-qualification criteria. JSW Steel also submitted a resolution plan and later an improved financial offer. The CoC allowed all three to submit improved offers. Tata Steel objected and filed an appeal to restrain the Resolution Professional and CoC from considering the improved offers. The NCLAT directed the CoC to consider all
…Sign in to view the parties.
The Adjudicating Authority (National Company…
Tata Steel Limited and…
Tata Steel Limited, a resolution applicant for Bhushan Power & Steel Limited (Corporate Debtor), appealed an order by the Adjudicating Authority (NCLT) directing the Committee of Creditors (CoC) to consider a resolution plan submitted by Liberty House Group Pte. Limited. Tata Steel challenged the Adjudicating Authority's decision, arguing that Liberty House failed to meet pre-qualification criteria and was given undue opportunities. JSW Steel also submitted a resolution plan. The CoC allowed all three resolution applicants (Tata Steel, Liberty House, and JSW Steel) to submit improved financial offers. Tata Steel then filed an appeal to restrain the Resolution Professional and CoC from considering the improved financial offers, without including JSW Steel as a
…Bhushan Power & Steel Limited (Corporate Debtor) underwent Corporate Insolvency Resolution Process (CIRP). Tata Steel Limited, Liberty House Group Pte. Limited, and JSW Steel Limited submitted resolution plans. Tata Steel, as a resolution applicant, challenged an order by the Adjudicating Authority (NCLT) directing the Committee of Creditors (CoC) to consider Liberty House's resolution plan. Tata Steel argued Liberty House failed to meet pre-qualification criteria. JSW Steel also submitted a resolution plan and later an improved financial offer. The CoC allowed all three to submit improved offers. Tata Steel objected and filed an appeal to restrain the Resolution Professional and CoC from considering the improved offers. The NCLAT directed the CoC to consider all
…The Adjudicating Authority (National Company…
Tata Steel Limited and…