Archive · 30 Jul 2025
Supreme Court to Review JSW Steel's BPSL Liquidation Case
JSW Steel bought a steel company called BPSL.
The Supreme Court initially said this purchase might have broken some rules.
Now, the court will review its decision in a public hearing, meaning everyone can watch.
JSW Steel wants to keep BPSL, but a previous decision would have forced it to sell its assets.
The Supreme Court will decide if JSW can keep the company or if the sale will be cancelled, affecting both JSW Steel and the lenders involved.
The Supreme Court will hold an open court hearing on JSW Steel's review petition concerning BPSL.
JSW Steel and the committee of creditors are challenging a previous ruling to liquidate BPSL.
The initial ruling, delivered May 3, overturned JSW Steel's acquisition of BPSL.
The court criticized stakeholders for allegedly violating the Insolvency and Bankruptcy Code.
The integrated steel operation is located at Jharsuguda in Odisha.
- Who
- JSW Steel, committee of creditors and BPSL.
- What
- The Supreme Court will hear the review petitions by JSW Steel and the committee of creditors regarding the liquidation of Bhushan Power & Steel Ltd.
- When
- The Supreme Court has agreed to an open court hearing, but the hearing is yet to take place.
- Where
- The Supreme Court of India.
- Why
- To review a previous judgment that set aside JSW Steel's resolution plan and ordered the liquidation of BPSL.
JSW Steel and Lenders
Supreme Court (Initial Ruling)
Future of BPSL
JSW Steel and Lenders
Maintain the resolution plan.
Supreme Court (Initial Ruling)
Liquidate BPSL.
- Company
- JSW Steel
- Case
- Review petition on BPSL liquidation
- Court
- Supreme Court of India
- Previous Verdict
- Annulled acquisition and ordered liquidation
- Location
- Jharsuguda, Odisha
