Tata Steel's plan to acquire Bhushan Steel may likely hit a new hurdle as the National Company Law Appellate Tribunal (NCLAT) will re-examine Tata Steel’s eligibility as a bidder, reported Business Standard.

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Lawyers have said that if the NCLAT or the Supreme Court gives any order which goes against Tata's acquisition, it may lead to an increase in costs for Tata Steel, which has already paid Rs 352 billion to the banks, the report said.

Tata Steel declined to comment to Business Standard on the report.

Earlier in May, the National Company Law Tribunal had approved the Tata Steel resolution plan for the Bhushan Steel after the latter was sent to the NCLT under the Insolvency and Bankruptcy Code (IBC) following its failure to repay loans worth Rs 480 billion.