Supreme Court does U-turn, validates JSW takeover of Bhushan Steel
The Supreme Court reversed its earlier decision, reinstating JSW Steel's revival plan for bankrupt Bhushan Power and Steel Limited. This ruling allows JSW to continue transforming BPSL into a profitable entity after a significant Rs 20,000 crore investment, upholding the Insolvency and Bankruptcy Code's objectives and the Committee of Creditors' commercial wisdom.
The Supreme Court reversed its earlier decision, reinstating JSW Steel's revival plan for bankrupt Bhushan Power and Steel Limited. This ruling allows JSW to continue transforming BPSL into a profitable entity after a significant Rs 20,000 crore investment, upholding the Insolvency and Bankruptcy Code's objectives and the Committee of Creditors' commercial wisdom.
