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NCLAT Rejects CoC Plea Seeking Early Disposal Of Bhushan Power and Steel

Steel News - Published on Thu, 13 Jun 2019

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BarandBench reported that National Company Law Appellate Tribunal has rejected an appeal made by the Committee of Creditors of debt ridden Bhushan Power and Steel seeking the early disposal of the corporate insolvency resolution process by the Adjudicating Authority, National Company Law Tribunal New Delhi. Rejecting the CoC’s appeal, a three-member Bench of the NCLAT headed by Chairperson, Justice SJ Mukhopadhyay stated that in absence of any order passed by the NCLT, it was not inclined to entertain this Appeal.

The plea was filed to speed track the process in the matter after the NCLT had reserved its judgement on the approval to JSW Steel’s resolution plan for Bhushan Power and Steel on April 23.

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Posted By : Rabi Wangkhem on Thu, 13 Jun 2019
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