The Supreme Court on Friday overturned its May 2 order directing the liquidation of Bhushan Power and Steel Ltd (BPSL) and upheld JSW Steel Ltd’s ₹19,700 crore resolution plan for the debt-ridden company, The Economic Times reports. The court effectively rejected challenges brought by BPSL’s former promoters and certain creditors.
The bench, led by Chief Justice BR Gavai, noted that delays in implementing the resolution plan were not…