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Wednesday, December 03, 2025 | 04:33 PM ISTहिंदी में पढें
Resolution rejected: SC verdict on Bhushan Power & Steel raises questions
The order is a blow to lenders. As experts have told this newspaper, lenders will have to return the recovery received through the resolution process
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The committee of creditors (CoC) failed to apply commercial wisdom in accepting the resolution plan of JSW Steel. The court also observed that the CoC failed to protect the interests of creditors by taking contradictory positions. However, the most c
The Supreme Court’s ruling last week that JSW Steel’s resolution plan for Bhushan Power & Steel Ltd (BPSL) was illegal can result in a serious setback to the process of recovery from bankruptcy. In a landmark judgment, the apex court also ordered the liquidation of BPSL, four years after its resolution plan was approved. While the affected parties may choose to appeal, the court’s order is a serious indictment of those involved and raises critical questions about the effectiveness of the resolution process under the Insolvency and Bankruptcy Code (IBC). The apex court has ruled that the resolution plan did
