On the receiving end of the ruling was JSW Steel Ltd. The company, among India’s largest steelmakers, acquired BPSL through a winning ₹19,000 crore bid in 2021, injected capital, integrated operations, and gained control of its assets, but now finds its plans quashed.
A Supreme Court bench led by Justices Bela Trivedi and Satish Sharma effectively mandated the liquidation of BPSL, marking a dramatic end to the longest-running insolvency case under India’s Insolvency and Bankruptcy Code.
Mint breaks down the key aspects of the judgment, the reasons behind it, its immediate fallout, and why this ruling could redefine India’s insolvency resolution landscape.
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