Archive · 26 Jun 2025
JSW Steel Seeks Review of BPSL Liquidation Decision
JSW Steel wants the Supreme Court to reconsider its decision about Bhushan Power and Steel (BPSL).
The court had previously said BPSL should be sold off.
JSW now has time to ask the court to look at the case again.
JSW believes the case is complicated and shouldn't be rushed.
The court had previously decided that JSW's original plan to buy BPSL didn't follow the rules.
JSW Steel seeks review of Supreme Court decision on Bhushan Power and Steel Ltd (BPSL).
The Supreme Court had initially ordered the liquidation of BPSL.
Status quo on liquidation was ordered by the court to allow JSW to file a review petition.
JSW argued the case is complex and shouldn't be rushed into liquidation.
The court found JSW's Resolution Plan in "flagrant violation and contravention" of the law.
- Who
- JSW Steel, the Supreme Court, Committee of Creditors (CoC), Bhushan Power and Steel Ltd (BPSL).
- What
- JSW Steel is seeking a review of the Supreme Court's decision regarding the liquidation of Bhushan Power and Steel Ltd (BPSL).
- When
- The case was published on June 26, 2025.
- Where
- Supreme Court.
- Why
- To challenge the order of liquidation and potentially revive its resolution plan for BPSL.
JSW Steel's Stance
Supreme Court's Ruling
Resolution Plan Viability
JSW Steel's Stance
Believes its plan was viable and should be reconsidered.
Supreme Court's Ruling
The original resolution plan violated the law.
Speed of Proceedings
JSW Steel's Stance
Argues for more time to review the complex case.
Supreme Court's Ruling
Liquidation proceedings should commence immediately.
- Company
- JSW Steel Ltd & Bhushan Power and Steel Ltd (BPSL)
- Court
- Supreme Court of India
- Action
- Review Petition
- Previous Ruling
- Liquidation of BPSL
- Status
- Status Quo on Liquidation
- Turnover
- ₹28,000 crore (BPSL annual)
