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…
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
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…
JSW Steel’s legal battle over the Bhushan Power and Steel (BPSL) resolution continues, as the Supreme Court is set to hear the company’s review petition today. The petition challenges the apex court’s May 2 verdict, which dismissed JSW Steel’s Rs 19,300 crore resolution plan for the acquisition of BPSL, reported Moneycontrol. The case stems from…