SC upholds JSW Steel’s resolution plan for Bhushan Power and Steel
NEW DELHI: The Supreme Court of India has upheld the successful resolution of Bhushan Power and Steel Limited (BPSL), one of the country’s most prominent corporate defaulters, by dismissing a batch of appeals challenging the takeover by JSW Steel Limited (SRA – JSW).
The judgment, arising from Civil Appeal No. 1808 of 2020 and connected appeals, confirms the common final order passed by the National Company Law Appellate Tribunal (NCLAT) on February 17, 2020, thereby providing finality to the Corporate Insolvency Resolution Process (CIRP) initiated against BPSL.
