8 months ago
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The Supreme Court connected Friday (September 26, 2025) upheld JSW Steel's ₹19,700-crore solution plan for debt-ridden Bhushan Power and Steel Limited (BPSL).
A peculiar seat comprising Chief Justice B.R. Gavai and Justices Satish Chandra Sharma and K. Vinod Chandran had reserved the verdict connected a batch of petitions connected August 11.
“We bash not find immoderate merit successful the appeals. They are, therefore, dismissed,” the apical tribunal said and rejected the objections raised by the ex-promoters and definite creditors of BPSL.
Five pleas were heard afresh aft the CJI-led seat connected July 31 recalled its May 2 verdict that had directed liquidation of BPSL and acceptable speech JSW’s solution plan, criticising the behaviour of the CoC, the solution professional, and the National Company Law Tribunal for what it termed a “flagrant violation” of the Insolvency and Bankruptcy Code (IBC).
Earlier, a seat of Justices Bela M. Trivedi and Satish Chandra Sharma had acceptable speech a solution program of applicant JSW Steel Limited for BPSL, holding it amerciable and successful usurpation of the IBC.
