A batch of six appeals were filed under Section 62 of the Insolvency and Bankruptcy Code, 2016 by erstwhile promoters and various Operational Creditors of the Corporate Debtor against the common final impugned judgment and order dated 17th February 2020 passed by the National Company Law Appellate Tribunal, New Delhi in relation to the Corporate Insolvency Resolution Proceedings of M/s Bhushan Power and Steel Limited.
The Reserve Bank of India (RBI) identified 12 large scale corporate defaulters, including Bhushan Power and Steel Limited (BPSL), with outstanding debts valued at Rs. 5,000 crore and above.
Punjab National Bank filed Company Petition C.P. No. (IB)-202 (PB) of 2017 under Section 7 of the IBC before the NCLT, which was admitted vide order dated 26th July 2017 and the CIRP commenced.
The Interim Resolution Professional (IRP) invited claims from all the creditors and stakeholders.
JSW Steel Ltd. emerged as the highest evaluated plan based on the evaluation matrix formulated in accordance with the Code and the relevant regulations.
The CoC approved the CRP by the requisite majority and JSW Steel Ltd. was declared as the SRA.
…Sign in to view the parties.
The Banking Regulation Act, 1949 was amended…
The RBI, vide circular dated 13th June…
A batch of six appeals were filed under Section 62 of the Insolvency and Bankruptcy Code, 2016 by erstwhile promoters and various Operational Creditors of the Corporate Debtor against the common final impugned judgment and order dated 17th February 2020 passed by the National Company Law Appellate Tribunal, New Delhi in relation to the Corporate Insolvency Resolution Proceedings of M/s Bhushan Power and Steel Limited.
The Reserve Bank of India (RBI) identified 12 large scale corporate defaulters, including Bhushan Power and Steel Limited (BPSL), with outstanding debts valued at Rs. 5,000 crore and above.
Punjab National Bank filed Company Petition C.P. No. (IB)-202 (PB) of 2017 under Section 7 of the IBC before the NCLT, which was admitted vide order dated 26th July 2017 and the CIRP commenced.
The Interim Resolution Professional (IRP) invited claims from all the creditors and stakeholders.
JSW Steel Ltd. emerged as the highest evaluated plan based on the evaluation matrix formulated in accordance with the Code and the relevant regulations.
The CoC approved the CRP by the requisite majority and JSW Steel Ltd. was declared as the SRA.
…The Banking Regulation Act, 1949 was amended…
The RBI, vide circular dated 13th June…