New Delhi, May 26 (SocialNews.XYZ) The Supreme Court on Monday ordered a status quo on the liquidation proceedings of Bhushan Power and Steel Ltd (BPSL), giving interim relief to JSW Steel.
The verdict came on a plea filed by JSW Steel seeking a stay on the liquidation process initiated by BPSL’s former promoter, Sanjay Singhal.
JSW Steel has been allowed to file a review petition against the Supreme Court’s May 2 verdict that quashed its Rs 19,300 crore resolution plan, which had come as a major setback for the Sajjan Jindal-led company.
A Supreme Court bench directed the…
