{"id":280132,"date":"2019-07-04T05:43:09","date_gmt":"2019-07-04T05:43:09","guid":{"rendered":"http:\/\/infralive.com\/web\/?p=280132"},"modified":"2019-07-04T05:43:09","modified_gmt":"2019-07-04T05:43:09","slug":"bhushan-power-supreme-court-paves-the-way-for-takeover-by-jsw-steel","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/bhushan-power-supreme-court-paves-the-way-for-takeover-by-jsw-steel\/","title":{"rendered":"Bhushan Power: Supreme Court paves the way for takeover by JSW Steel"},"content":{"rendered":"<p>The Supreme Court on Wednesday paved the way for the Delhi bench of the National Company Law Tribunal (NCLT) to pronounce its orders on approval of JSW Steel\u2019s Rs 19,350-crore bid for debt-ridden Bhushan Power and Steel (BPSL), which is under insolvency process. Expressing surprise on how the Punjab and Haryana High Court had intervened in the resolution process of BPSL, a bench led by Justice RF Nariman stayed the HC order that had asked the committee of creditors (CoC) and the NCLT to consider the objections raised by the former directors of the company before finalising any resolution plan.<\/p>\n<p>\u201cActs like this must be frowned upon and dealt sternly,\u201d Justice Nariman said, staying the HC\u2019s April 18 order. It also issued notice to other parties in the case.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>The Supreme Court on Wednesday paved the way for the Delhi bench of the National Company Law Tribunal (NCLT) to pronounce its orders on approval of JSW Steel\u2019s Rs 19,350-crore bid for debt-ridden Bhushan Power and Steel (BPSL), which is under insolvency process. Expressing surprise on how the Punjab and Haryana High Court had intervened in the resolution process of BPSL, a bench led by Justice RF Nariman stayed the HC order that had asked the committee of creditors (CoC) and the NCLT to consider the objections raised by the former directors of the company before finalising any resolution plan. [&hellip;]<\/p>\n","protected":false},"author":39,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[130,240,138],"tags":[],"class_list":["post-280132","post","type-post","status-publish","format-standard","hentry","category-newspapers","category-power-the-financial-express","category-the-financial-express"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/280132","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/39"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=280132"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/280132\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=280132"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=280132"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=280132"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}