Insolvency: Bhushan Power lenders asked to go ahead with selection of bids

The appellate tribunal directed the CoC to keep its decision over the bids in a sealed cover and said it would be subject to its final order.

The National Company Law Appellate Tribunal (NCLAT) today asked the Committee of Creditors (CoC) of debt-ridden Bhushan Power & Steel to proceed with the bids submitted by Tata Steel and UK-based Liberty House. The appellate tribunal also directed the CoC to keep its decision over the bids in a sealed cover and said it would be subject to its final order.
 

“Approval of one or the other would be kept in a sealed cover,” said the NCLAT bench headed by Chairman Justice S J Mukhopadhaya.
 

The appellate tribunal also declined the request of the Committee of Creditors to direct both