STATE BANK OF INDIA Vs. BHUSHAN STEEL LTD

JUDGEMENT

(1.) C.A. No.465(PB) /2017

(2.) According to the averments made in the application the resolution process is still at a premature stage. The various potential applicants are still taking steps to make offer by filing the resolution plans and therefore, further time would be necessary.

(3.) We take this opportunity to point out that the Resolution Professional must bring it to the notice of the Committee of Creditors the latest developments which have resulted from the issuance of ordinance dated 23.11.2017, The ordinance requires fulfilment of additional conditions and also take cognizance of the notification issued by the Insolvency Bankruptcy Board of India dated 07.11.2017.