The Supreme Court today (August 11) reserved its decision in the batch of appeals challenging the resolution plan of JSW Steel for Bhushan Power and Steel Ltd (BPSL).
The bench of CJI BR Gavai and Justices SC Sharma and K Vinod Chandran heard the matter. Previously, the bench, in exercise of review power, had recalled the May 2 judgment, which had rejected JSW’s resolution plan and decided to hear the matter afresh. In the May 2 judgment, the bench of Justices Bela Trivedi and SC Sharma set aside the resolution plan on 5 main grounds and directed the liquidation of BPSL.
Key Arguments Raised By Different Stakeholders During The Proceedings
Solicitor General Tushar Mehta, appearing for the CoC, submitted that a CoC constituted once under…