JSW Steel awaits fate of Bhushan Power acquisition as SC adjourns hearing

Since JSW was named the highest bidder last year, it has been a long wait for Jindal due to a spate of investigations by ED and multiple adjournments in final hearing at the Supreme Court

Exactly a year ago, Sajjan Jindal-owned JSW Steel’s resolution plan for Bhushan Power and Steel (BPSL) was approved by the National Company Law Tribunal (NCLT), and the Indian lenders heaved a sigh of relief as they were waiting since July 2017 to resolve the Rs 48,000-crore of debt taken by the firm. As the Supreme Court (SC) adjourned the final hearing on JSW's acquisition again on Wednesday, the lenders' wait just got longer.
 
The company was among the first to be sent for debt resolution by the Reserve Bank of India under the Insolvency and Bankruptcy Code, 2016.