New Delhi: The National Company Law Appellate Tribunal (NCLAT) Friday directed the Delhi bench of the National Company Law Tribunal (NCLT) to decide on JSW Steel Ltd’s bid for the debt-ridden Bhushan Power and Steel Ltd by 31 March.
A two-member NCLAT bench, headed by chairman justice S.J. Mukhopadhaya, has also directed NCLT Delhi to hear the representatives of operational creditors, promoters as well as dissenting banks.
“We expect adjudicating authority (NCLT) to decide the case at an early date to ensure that the matter is decided before the end of this financial year,” the appellate tribunal said. During the proceedings, Bhushan Power promoter Sanjay Singal through his counsel offered to settle all dues of the lenders.
