The corporate watchdog will consider whether to take further action against one of UK billionaire Sanjeev Gupta's Australian companies, after the NSW Supreme Court knocked back the company's request for more time to file long-overdue financial reports.

Liberty Bell Bay operates Australia's only manganese alloy smelter, in northern Tasmania.

It's part of the GFG Alliance group of companies, owned by the businessman once hailed as the "saviour of steel".

It's a private company, but Liberty Bell Bay needs to lodge annual reports with the Australian Securities and Investments Commission (ASIC).

It failed to do that between 2021 and 2024, prompting the regulator to take court action against it and two other GFG companies with outstanding reports in June.

In July, the NSW Supreme Court made

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