NCLT asked the lenders of Bhushan Power & Steel, led by PNB, to consider the bid submitted by UK-based Liberty House for the debt-ridden company.
The govt has intervened in the bankruptcy proceedings of Nirav Modi firms in the US to protect the interests of Punjab National Bank, Union minister P P Chaudhary said.
"Article 14 of the Constitution can come in case of COCs (committee of creditors) violate IBC (Insolvency and Bankruptcy Code) law," Kumar said.
Reserve Bank deputy governor NS Vishwanathan today raised concerns over the large number of borrowers failing on the one-day default norm.
The National Company Law Tribunal's (NCLT) Kolkata bench approved Vedanta Ltd's resolution plan for the insolvent Electrosteel Steels Ltd.