The Supreme Court‘s ruling in the JSW Steel-Bhushan Power & Steel case has put the spotlight on the slow pace of insolvency resolutions, with legal experts warning that many companies awaiting resolution may now be headed for liquidation. The court, in its May 2 order scrapping JSW Steel‘s acquisition of Bhushan Power & Steel (BPSL), reaffirmed that the 330-day deadline for completing the proceedings-including time spent in litigation-is strict, with exceptions in rare cases.“With many insolvency cases dragging on for over 1,200 days, the Supreme Court’s reiteration of the 330-day ceiling sends a clear message: liquidation may soon become the default route,” said VP Singh, senior partner and litigation head at AZB & Partners. “There are…
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