The Supreme Court’s unprecedented move to scrap JSW Steel’s ₹19,700-crore resolution plan for Bhushan Power & Steel Ltd (BPSL) and order its liquidation has shifted the burden back onto the already-understaffed National Company Law Tribunal (NCLT), which must now hear the case again.
Understaffing at the National Company Law Tribunal (NCLT) emerged as a key concern on Wednesday during a hearing on the BPSL case. NCLT president Justice Ramalingam Sudhakar raised doubts about the tribunal’s capacity to revisit such a complex, large bankruptcy case resolved six years ago, given its limited resources.
“The entire matter has come back to us lock, stock, and barrel,” Justice Sudhakar said.
“So many issues are happening in the…
