NCLT seeks replies to Liberty House plea over bid for Bhushan Steel

Sanjeev Gupta-led Liberty House is arguing that his company's offer got rejected without being reviewed

Sanjeev Gupta-led Liberty House moved the National Company Law Tribunal (NCLT) on Monday after the lenders rejected its bid for debt-ridden Bhushan Power & Steel.

The NCLT asked lenders and the resolution professional to file their replies by March 5, which is the next hearing date. The counsel for Liberty House argued that their plan should be considered as it might be a better offer than the other two applicants. The counsel argued that their bid was junked without opening it. The committee of creditors had rejected the bid on the grounds that it was submitted after deadline.

For Bhushan Power &