Bhubaneswar: Over 3,000 people staged a protest on Wednesday afternoon at the Bhushan Power and Steel Ltd (BPSL) plant gate in Jharsuguda, voicing their anger and anxiety over the Supreme Court’s May 2 ruling ordering the liquidation of the company.
The apex court, on April 2, rejected JSW Steel’s resolution plan for BPSL under the Corporate Insolvency Resolution Process (CIRP) and instead directed the liquidation of the debt-ridden company. The verdict overturned earlier approvals granted by both the National Company Law Tribunal (NCLT) and the National Company Law Appellate Tribunal (NCLAT), which had cleared JSW Steel’s acquisition plan.
The protesters comprised BPSL employees, contractors, local vendors, and small traders,…
