Last Updated:
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 a plea by JSW Steel seeking to put the liquidation proceedings in “abeyance,” Economic Times reported.
JSW Steel argued that initiating liquidation would be “fatal” to the company and would adversely impact various stakeholders, including lenders and employees.
A bench comprising Justices B V Nagarathna and Satish Chandra Sharma observed that liquidation of BPSL could jeopardise JSW…
