Operational creditors (OCs) to Bhushan Power and Steel (BPSL) on Tuesday raised objections over the committee of creditors (CoC)-approved plan before the National Company Law Tribunal (NCLT), terming it as “discriminatory”. The CoC had in August last year approved JSW Steel’s `19,700-crore plan for BPSL.
Counsel appearing on behalf of the OCs before the principal bench of the adjudicating authority also alleged that they were never given a copy of the resolution plan. The counsel also raised objection to the distinction made among the OCs.
The NCLT bench, headed by its president Justice MM Kumar, has scheduled the matter for further hearing on March 25. Read More
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