The Supreme Court clarified the effect of annulment of insolvency proceedings on transactions carried out during the insolvency period. The case arose from a long-standing dispute over the shareholding in a partnership firm, M/s Gavisiddheshwara & Co., originally formed in 1963. After the death of one of the partners in 1975, his son (the appellant)…
United Insurance Company Limited is finally set to go into liquidation following the appointment of the official liquidator of the company’s property. In an insolvency notice issued by Kamal Anantroy Bhatt through Anant Bhatt LLP on September 25, 2025, the liquidator officially announced the convening of a creditors’ meeting as part of the legal process…
The Supreme Court of India today reversed its recent decision quashing JSW Steel’s resolution plan for Bhushan Steel and Power Limited (BSPL). Last month, the court had reserved its verdict on the review petitions after days of sharp exchanges between Senior lawyers over the fate of nearly Rs. 6,000 crore in earnings before interest, taxes,…
In a win for JSW Steel Ltd, the Supreme Court has approved the company’s ₹19,700 crore plan to take over bankrupt Bhushan Power and Steel Ltd, marking the end of one of India’s longest-running insolvency battles. The court rejected a challenge from dissenting creditors, saying the decisions of the committee of creditors (CoC) must be…
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The Supreme Court on Friday overturned its May 2 order directing liquidation of Bhushan Power and Steel Ltd (BPSL) and instead upheld JSW Steel Ltd’s Rs 19,700-crore resolution plan for the debt-ridden company. With this verdict, SC rejected challenges raised by BPSL’s former promoters and certain creditors.The apex court observed that delays in implementation were…
The Supreme Court on Friday upheld JSW Steel Ltd.’s resolution plan for Bhushan Power & Steel Ltd. A bench comprising Chief Justice of India BR Gavai, Justices SC Sharma and K Vinod Chandran junked a previous order by a two-judge bench reversing JSW’s acquisition of the bankrupt firm for Rs 19,700 crore. The apex court…
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