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Insolvency: Liberty House offers over Rs 260 bn for Bhushan Power

The NCLT has asked Bhushan Power lenders, led by PNB, to consider the bid submitted by Liberty House for the debt-ridden company

IBC, Insolvency law
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Illustration: Ajay Mohanty

Press Trust of India New Delhi
UK-based Liberty House has offered over Rs 260 billion for acquiring the stressed assets of Bhushan Power & Steel, leading Tata Steel and JSW in the race.

The NCLT has asked Bhushan Power lenders, led by PNB, to consider the bid submitted by Liberty House for the debt-ridden company. It owes about Rs 450 billion to the lenders. “In the meeting of CoC held on Friday, the bid of Liberty House was opened. The consolidated bid amount offered by the firm for the stressed assets of Bhushan Power was over Rs 260 billion,” said a source privy to the development. Tata

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First Published: Apr 28 2018 | 1:11 AM IST

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