Javid will hold talks with Mistry to discuss details of the sales process for the firm's UK steel operations as British government seeks to find a solution to the steel crisis.
The news came as steel unions in the country called on Prime Minister David Cameron to personally intervene in the ongoing emergency talks in London to save Britain's steel industry from collapse.
Tata Steel announced last week it was selling its loss-making UK businesses and would close its plant at Port Talbot unless a buyer is found.
(Reopebns FGN 35)
More From This Section
Codenamed "Project Greensteel Pluto", the takeover is aimed at ultimately powering steel-making through renewable energy sources.
Liberty had recently completed its acquisition of two Scottish plants earlier owned by Tata Steel and the firm's Long Products division based in Scunthorpe had been sold to Greybull Capital for a token 1 pound last month.
Central to the Indian steel giant's assets in the UK is the Port Talbot steelworks in south Wales, which is the UK's largest and employs around 4,000 workers.
Tata also has operations at Corby, Shotton and Teesside.