"Liberty House has addressed certain issues raised by the CoC," a Liberty House official said but refused to comment on submission of bids.
According to reports, JSW is the only one who has submitted a revised bid of Rs 197 billion.
While Tata Steel did not comment, an email query sent to JSW Steel remained unanswered.
Sajjan Jindal-led JSW Steel, Tata Group firm Tata Steel and UK-based Liberty House are competing with each other to acquire BPSL through an insolvency process.
BPSL owes about Rs 450 billion to its lenders. It was among the 12 non-performing accounts referred by the Reserve Bank of India for NCLT proceedings.
BPSL is a fully integrated 3.5 million tonne per annum (MTPA) steel making company. It is a leading manufacturer of flat and long products.