The Supreme Court on Thursday recalled its recent order that set aside a Rs 19,700 crore resolution plan submitted by JSW Steel Limited for Bhushan Power and Steel Limited (BPSL) and ordered liquidation of the beleaguered company.
“Prima facie we are of the view that the impugned judgment does not correctly consider the legal position as has been laid down in catena of judgments,” a Bench of Chief Justice of India BR Gavai and Justice Satish Chandra Sharma said about the May 2 judgment authored by Justice Bela M Trivedi (since retired).
“We, therefore, think that this is a fit case wherein the judgment under review needs to be recalled and the matter needs to be considered afresh. So, needless to say that while we are allowing the…