Bhushan Power case: NCLAT seeks govt’s response on JSW Steel’s plea

The National Company Law Appellate Tribunal (NCLAT) has issued a notice to the Union government, the Enforcement Director (ED) and the CBI on a petition filed by JSW Steel.

JSW Steel has sought immunity from an ongoing investigation into an alleged financial fraud at Bhushan Power and Steel once it acquires the company.

All the parties that have been issued the NCLAT notice have to respond within a week. The next hearing in the case is slated for October 14.

Interestingly, NCLAT has not directed JSW Steel to deposit any money for taking over the stressed asset.