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Liberty House to approach NCLT on Bhushan Power bid rejection by creditors

Bhushan Power and Steel owes about Rs 450 bn to its lenders

Bhushan Steel
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Bhushan Steel

Aditi Divekar Mumbai
Sanjeev Gupta-led Liberty House will be approaching the National Company Law Tribunal (NCLT) in connection with its bid rejection by creditors to acquire debt-laden Bhusan Power & Steel.

"We will go to the NCLT and ask them to direct RP (resolution professional) and CoC (Committee of Creditors) to open our bid," Liberty said in its statement on Thursday. 

The UK-based company has been interested in NCLT-listed entities and has also submitted a revised bid for Amtek Auto on February 9.

"The process is not supposed to deny creditors to recover more money on these bad debts, that would not be