The Supreme Court of India, on August 11, 2025, reserved its judgment in the ongoing legal battle surrounding JSW Steel’s resolution plan for Bhushan Power and Steel Limited (BPSL). The bench, led by the Chief Justice, heard final arguments from all parties involved in a batch of appeals stemming from the Corporate Insolvency Resolution Process (CIRP).
The hearing followed a significant order from the Supreme Court on July 31, 2025, which had allowed review petitions and recalled an earlier directive to send Bhushan Power and Steel Ltd into liquidation. This decision was a setback to the arguments that JSW Steel had been responsible for the alleged delays in implementing the resolution plan.
Key Arguments
A central…