Creditors, led by ICICI Bank, have sought more details on the lone bid for debt-laden ABG Shipyard Ltd, submitted by London-based metals group Liberty House under the IBC process.

“The committee of creditors has sought more information/clarification on the business plan submitted by Liberty House,” a person who attended the meeting on Tuesday said, asking not to be named.

Liberty House, led by Indian-born businessman Sanjeev Gupta, has offered ₹5,200 crore on a deferred payment basis, stretching over 5 to 10 years, for the yard. The bid also includes an up-front amount of ₹400 crore and issue of debentures.

The lenders have set a liquidation value of ₹2,200 crore for the yard, which owes some ₹18,245 crores to a clutch of banks led by ICICI Bank.

The business plan submitted by Liberty House includes liquidating the pending ship orders and then pursuing a combination of shipbuilding and ship-breaking businesses.

It also includes setting up a steel rolling mill inside the yard to make steel using material generated from dismantling ships, said a person briefed on the business plan submitted by Liberty House. He, too, declined to be named.

The committee of creditors is expected to meet again in the next few days and put Liberty House’s resolution plan to vote after getting more details, the person who attended the meeting said.

ABG Shipyard is among 12 large companies that the RBI had identified in June 2017 for banks to refer to the bankruptcy court immediately.

The resolution of ABG Shipyard has to be completed by April 30, according to the timeline set by the National Company Law Tribunal.