Consider 1st batch of resolution plans in Bhushan Power case: NCLAT to CoC

However, any new plan or revision of plans, if received, will have to be kept in a sealed cover and should not be opened or considered by the CoC

The National Company Law Appellate Tribunal (NCLAT) order on Bhushan Power & Steel on Monday has put the committee of creditors (CoC) in a bind on the eve of the meeting.

The appellate tribunal has said that the CoC should consider the first batch of resolution plans at its meeting on Tuesday. 

The observation was in response to an application moved by Tata Steel. The application was mentioned before the NCLAT on Monday. The tribunal has observed that no new plan or revision will be placed before the CoC. 

However, any new plan or revision of plans, if received, will have to be