As the Supreme Court rejected the resolution plan of JSW Steel for Bhushan Power and Steel Limited (BPSL) almost six years after its approval by NCLT, we take a relook at the corporate insolvency resolution process of the corporate debtor. Background Bhushan Power and Steel Limited (BPSL) was one of the 12 major accounts identified…
Date published: 2 May 2025 The High Court has made a disqualification order against the director of a company involved in other sports activities. The Order was made for five years against Mark Allen (39) of The Grange, Antrim, in respect of his conduct as director of Mark Allen (NI) Limited (“the Company”). The Company…
The Supreme Court on Friday held JSW Steel Ltd’s acquisition of Bhushan Power & Steel Ltd as illegal and ordered the liquidation of the beleaguered steelmaker. In an order, the apex court ordered that the resolution plan submitted by JSW Steel in 2019 be rejected. JSW Steel had won the bid to acquire Bhushan Power…
Access Denied You don’t have permission to access “http://www.business-standard.com/companies/news/bhushan-power-liquidation-may-attract-top-steelmaker-bids-125050400402_1.html” on this server. Reference #18.d1672817.1746356159.6020f124 https://errors.edgesuite.net/18.d1672817.1746356159.6020f124 Read the original article here
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member), Mr. Baurn Mitra (Technical Member) and Mr. Arun Baroka (Technical Member) has held that in a joint application filed by operational creditors under Section 9 of the Insolvency and Bankruptcy Code, 2016 (the Code), the threshold limit prescribed under…
Moorcroft had warned in March of possible redundancies and at the time cited rising costs and falling sales. The news of the firm’s collapse was the latest blow to the industry in Stoke-on-Trent, a place affectionately known as The Potteries. Heraldic Pottery in Newstead also announced liquidation in February and that followed the closure of…
The National Company Law Appellate Tribunal (NCLAT) New Delhi bench of Justice Ashok Bhushan (Judicial Member) and Mr. Arun Baroka (Technical Member) has held that when a creditor is well aware of the initiation of the Corporate Insolvency Resolution Process (CIRP) against the corporate debtor but chooses not to file a claim before the Resolution…
Access Denied You don’t have permission to access “http://www.business-standard.com/companies/news/bpsl-liquidation-what-is-article-142-when-can-the-supreme-court-use-it-125050300559_1.html” on this server. Reference #18.d1672817.1746267875.4f94abda https://errors.edgesuite.net/18.d1672817.1746267875.4f94abda Read the original article here
JSW Steel may be forced to write off its ₹19,700 crore investment in Bhushan Power & Steel Ltd (BPSL), after the Supreme Court declared the 2021 acquisition illegal and ordered the company into liquidation. The decision caused JSW shares to fall 5.5% on Friday to ₹972.15, and could potentially shave off 10–15% of the company’s…
Access Denied You don’t have permission to access “http://www.business-standard.com/amp/companies/news/bpsl-liquidation-what-is-article-142-when-can-the-supreme-court-use-it-125050300559_1.html” on this server. Reference #18.d1672817.1746266795.4f33fe58 https://errors.edgesuite.net/18.d1672817.1746266795.4f33fe58 Read the original article here