Hit by rejection of its bid to acquire Bhushan Power and Steel, UK-based liberty House plans to move NClT this week to direct creditors and resolution professional to consider its offer.
“We plan to file application with National Company law Tribunal (NClT) either on Monday or Tuesday and ask it to direct RP (resolution professional) and CoC (Committee of Creditors) to open our bid. We are hopeful that NClT would clarify and our bid would be opened,” a spokesperson with liberty House said.
Stating that the bid of liberty House was submitted before the bids for Bhushan Power and Steel were opened, the company said that nothing unfair has happened. “India should encourage entrepreneurs like us to invest in India. If we are successful on our bids we will invest $10 billion in India over the next five years,” the spokesperson said.
Terming itself as a “turnaround specialist”, the company said that it has more than two dozen turnaround success stories in the last three years and an “impeccable track record”.