The Supreme Court on Thursday recalled its May 2, 2025, judgment that ordered the liquidation of Bhushan Power and Steel Ltd (BPSL) after rejecting steel major JSW Steel Ltd’s Rs 19,000 crore bid to acquire it through the Corporate Insolvency Resolution Process (CIRP) route.
A bench of Chief Justice B R Gavai and Justice S C Sharma said it will consider the appeal challenging the resolution plan afresh.
“We…think that this is a fit case wherein the judgment under review needs to be recalled and the matter needs to be considered afresh. So needless to say that while we are allowing the review, we keep all the questions available to both parties open to be argued at the stage of hearing,” the bench said.