The National Company law Appellate Tribunal (NClAT) on Thursday asked the Committee of Creditors (CoC) of debt-ridden Bhushan Power & Steel to proceed with the bids submitted by Tata Steel and UK-based liberty House. The appellate tribunal also directed the CoC to keep its decision over the bids in a sealed cover and said it would be subject to its final order.
“Approval of one or the other would be kept in a sealed cover,” said the NClAT bench headed by Chairman Justice S J Mukhopadhaya.The appellate tribunal also declined the request of the Committee of Creditors to direct both the parties to submit fresh bids. NClAT has listed the matter for further hearing on July 12.