BPSL creditors face big clawback after SC rejection of plan

The Supreme Court overturned JSW Steel’s acquisition of Bhushan Power & Steel, potentially requiring creditors like Deutsche Bank and SBI to refund ₹19,350 crore within two months. This decision stems from a clause in the resolution plan mandating repayment if the acquisition was invalidated. The court also rejected JSW Steel’s justification for delaying a significant equity infusion.

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