The National Company Law Appellate Tribunal (NCLAT) on Friday directed the Enforcement Directorate (ED) to file an affidavit, giving an update on its differences with the ministry of corporate affairs (MCA) over the insolvent company, Bhushan Power & Steel’s (BPSL) assets attachment.
Hearing a bunch of petitions, a two-member NCLAT bench headed by chairperson Justice SJ Mukhopadhaya also expressed its displeasure over the government’s procrastination in arriving at a consensus on the vexed issue that has stymied BPSL’s resolution. The National Company Law Tribunal (NCLT) approved JSW Steel’s Rs. 19,700-crore bid to take over BPSL in August.
