The Supreme Court on Monday paused liquidation proceedings of Bhushan Power and Steel Ltd (BPSL), granting temporary relief to JSW Steel, which plans to challenge the apex court’s recent order rejecting its ₹19,300 crore resolution plan for the company.
A bench of Justices B.V. Nagarathna and Satish Chandra Sharma directed that a status quo be maintained on the matter before the National Company Law Tribunal (NCLT), allowing JSW Steel time to file a review petition within the statutory limitation period.
The apex court’s earlier ruling on May 2, 2025, had overturned JSW Steel’s approved resolution plan on grounds of non-compliance with key provisions of the Insolvency and Bankruptcy Code (IBC), including failure…
