NCLAT to hear Bhushan Steel promoter's plea against Tata Steel takeover
Updated : May 17, 2018 01:33 PM IST
The petition was mentioned today before an NCLAT bench headed by Chairman Justice S J Mukhopadhaya, which directed it to be listed on Monday for hearing.
On May 15, NCLT had approved the resolution plan submitted by the resolution professional of Bhushan Steel, with Tata Steel emerging as the highest bidder.
The Committee of Creditors (CoC) had approved the Rs 32,500 crore deal along with 12.27% equity in the company offered by Tata Steel.
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