NCLAT to hear Bhushan Steel promoter’s plea against Tata Steel takeover


NCLAT to hear Bhushan Steel promoter’s plea against Tata Steel takeover

The National Company Law Appellate Tribunal (NCLAT) will next week hear Bhushan Steel promotor Neeraj Singal’s plea against acquisition of the company by Tata Steel.

Singal has sought a stay on the National Company Law Tribunal (NCLT) order approving Tata Steel’s bid for the debt-ridden Bhushan Steel under corporate insolvency resolution process.

The petition was mentioned Thursday before an NCLAT bench headed by Chairman Justice S J Mukhopadhaya, which directed it to be listed on Monday for hearing.

Singal has also requested the appellate tribunal to maintain status quo over the company’s shareholding. Read More

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