Acceptance of Liberty House bid will violate level-playing: Tata Steel

Tata Steel on Thursday told the National Company Law Tribunal (NCLT) that the acceptance of UK-based Liberty House’s bid for Bhushan Power and Steel would amount to violation of the level-playing field in the resolution process.

The tribunal was hearing a plea filed by Liberty House challenging the rejection of its bid for Bhushan Power and Steel on account of late submission. Liberty House had moved the NCLT on February 26.

Appearing for Tata Steel, senior advocate Abhishek Manu Singhvi submitted before the NCLT that Liberty House had hidden facts in their petition filed before it.