SC scraps JSW Steel’s ‘illegal’ Bhushan Power and Steel deal, orders liquidation

May 3, 2025

The Supreme Court has nullified JSW Steel’s resolution plan for Bhushan Power and Steel Ltd, deeming it illegal and ordering liquidation. JSW’s plan involved a significant haircut for lenders, offering Rs 19,350 crore to financial creditors and Rs 350 crore to operational creditors.

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