The Supreme Court on Monday ordered status quo on the liquidation proceedings against Bhushan Steel and Power Ltd (BSPL). The top court was hearing a petition filed by BSPL parent JSW Steel, which sought a stay on the liquidation proceedings against the company it acquired in 2021 through insolvency proceedings. Justices BV Nagarathna and Satish Chandra…
Last Updated:May 26, 2025, 13:58 IST JSW Steel argued that initiating liquidation would be “fatal” to the company and would adversely impact various stakeholders SC orders status quo on liquidation of Bhushan Power The Supreme Court on Monday ordered parties to maintain status quo on the liquidation of Bhushan Power and Steel Ltd (BPSL), following…
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In a key development in the Bhushan Power and Steel Ltd (BPSL) case, the Supreme Court on Monday ordered a status quo on liquidation proceedings before the National Company Law Tribunal (NCLT), granting temporary relief to JSW Steel, which is seeking to file a review petition. The top court was hearing a plea filed by…
Latest figures from the Insolvency Service have shown that the number of registered business insolvencies in England and Wales decreased by 2.9% in March 2025 to a total of 1,992 when compared to February 2025’s total. Business insolvencies increased by 9.1% when compared to March 2024’s figure of 1,826 than the same month in the…
In a big relief for JSW Steel, the Supreme Court on Monday directed for status quo on NCLT proceedings on liquidation of Bhushan Power and Steel Ltd (BPSL), stated a report by CNBC TV18. The move followed the SC’s 2 May verdict, which quashed the company’s Rs 19,300 crore resolution plan for BPSL and directed…
Lucapa Diamond Company Enters Voluntary Administration, Defers Financial Obligations TipRanks Read the original article here
Notably, in December 2024, the ED decided not to pursue its appeal before the Supreme Court against JSW Steel’s takeover of Bhushan Power and Steel under the IBC. It also returned attached assets valued at ₹4,025 crore to JSW Steel so that it could take control of Bhushan Power pursuant to the insolvency resolution process under IBC. The restitution…
The Supreme Court’s recent judgment in the matter of Kalyani Transco v. Bhushan Power & Steel Ltd has generated substantial interest and curiosity among stakeholders, prompting speculation regarding the future of the Insolvency and Bankruptcy Code, 2016 (IBC/Code). Although the Code is still in the process of evolution, its functioning occasionally exhibits both excitement and disappointment, while…
[SINGAPORE] Former Park Hotel Management (PHMPL) director Allen Law, who is being sued by liquidators of the company, has failed to reduce his potential liabilities by S$6.8 million after the High Court rejected his application to amend his defence and introduce a counterclaim. In a landmark judgment last year, Justice Goh Yihan dismissed Law’s application…