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Tata Steel favourite in Bhushan Power & Steel race, ahead of NCLAT hearing

Tata Steel has emerged as the favourite to buy the distressed assets of Bhushan Power and Steel, ahead of a crucial hearing of the National Company Law Appellate Tribunal.In a meeting of Bhushan Power & Steel's lenders - Committee of Creditors - on Monday, the Rs 24,500-crore bid from Tata Steel was found to be more favourable."The bid includes about Rs 7,500 crore for Bhushan Power's operations and rest for lenders...Liberty House's bid did not have the right backing and commitment," said two sources aware of the development.They added that the lenders were dissatisfied with Liberty House's offer for lenders which was at about Rs 18,000 crore, despite it being higher than Tata Steel's offer of about Rs 17,000 crore.Previously, Liberty Ho.....

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