Liquidation of Bhushan Steel: SC orders status quo on proceedings pending before NCLT
NEW DELHI: The Supreme Court on Monday ordered status quo on the liquidation proceedings against Bhushan Steel and Power Ltd (BPSL) before the National Company Law Tribunal. A bench of Justices B V Nagarathna and Satish Chandra Sharma said liquidation of the BPSL might jeopardise the review petition, which was to be filed by JSW Steel Limited.
"Without expressing any opinion at this stage, we are of the view that it would be in the interest of justice if status quo is maintained on the proceedings pending in NCLT," the bench said.
On May 2, the top court had set aside a resolution plan submitted by JSW Steel Limited for BSPL, holding it illegal and in violation of the
Insolvency and Bankruptcy Code
(IBC).
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Time of India
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- Time of India
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Understanding Housing Grants and Loans The Mohammed bin Rashid Housing Establishment offers two primary forms of assistance for Dubai citizens: housing grants and housing loans. Each is designed to support citizens based on their specific financial situation, family status, and housing needs. Housing Grants: These are typically aimed at low-income families, widows, divorcees with children, and people of determination (those with disabilities). Citizens who do not own property and meet the income requirements can apply for a grant. The key focus of grants is to provide financial aid for building new homes, maintaining old properties, or purchasing prefabricated housing solutions. Housing Loans: Housing loans are designed for citizens with a stable income who can repay the amount over time. These loans are intended to help with building or buying homes, as well as renovating or expanding existing properties. 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