SC admits plea challenging NCLAT order allowing sale of Bhushan Power
The Supreme Court Friday admitted a plea challenging appellate tribunal NCLAT’s order allowing JSW Steel to acquire Bhushan Power & Steel Ltd for Rs 19,700 crore by providing it immunity from prosecution by the Enforcement Directorate.
A bench comprising Chief Justice S A Bobde and Justices B R Gavai and Surya Kant refused however to put the sale on hold.
“The appeals are admitted. Senior Advocate Dr A M Singhvi, appearing for the Committee of Creditors, states that in case he receives money, he will return the said amount within two months, if the appeal succeeds,” the bench said.
The apex court has put up the matter for hearing on April 15. A two-member bench of the National Company Law Appellate Tribunal (NCLAT),
