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
Latest posts by Financial Express (see all)
- Bhushan Power resolution: NCLT reserves order on JSW Steel plan - April 24, 2019
- Indian Oil to fully shut Mathura refinery in November for maintenance, say sources - April 24, 2019
- Wow! Indian Railways gives an airport-like makeover to Kurnool City station; see beautiful pictures here - April 23, 2019