India's top court on Monday halted the liquidation proceedings of Bhushan Power and Steel (BPSL), weeks after it rejected JSW Steel's $2.3 billion deal to acquire the firm.

At the time, this was the second largest acquisition under the IBC. Bhushan Power & Steel was one of the 12 companies shortlisted by the Reserve Bank of India in 2017 for insolvency proceedings.

Lt Gen Pendharkar has held important staff appointments at all levels including a tenure at Military Operations Directorate at Integrated Headquarters of Ministry of Defence (Army), the official said.