Archive · 28 Jul 2025
Supreme Court to Reconsider JSW Steel’s Bhushan Power Acquisition
Imagine a company, Bhushan Power, that was in trouble.
Another company, JSW Steel, tried to buy it and make it better.
But the Supreme Court said the deal wasn't done correctly.
Now, JSW Steel is asking the court to look at the decision again.
They've already improved the company, making more steel and selling more.
Other companies that lent money to Bhushan Power also want the court to reconsider.
They're worried that if the company is sold off, it would be bad for everyone involved.
The court will decide if the original decision was right.
Supreme Court to hear JSW Steel's review plea on July 29 regarding the Bhushan Power & Steel Ltd (BPSL) acquisition.
The review challenges the court's earlier judgment that quashed the acquisition and ordered liquidation.
JSW Steel took over BPSL in 2021 through a resolution process and has since improved operations.
Lenders, including State Bank of India and Punjab National Bank, also support JSW Steel's review.
The earlier ruling invalidated the acquisition due to non-compliance with insolvency code provisions.
- Who
- JSW Steel, lenders, and the Supreme Court are involved.
- What
- The Supreme Court will hear a review petition regarding JSW Steel's acquisition of Bhushan Power & Steel Ltd.
- When
- The hearing is scheduled for July 29.
- Where
- The Supreme Court.
- Why
- JSW Steel is challenging the court's prior ruling that quashed the acquisition and ordered liquidation of BPSL.
JSW Steel & Lenders
Dissenting Financial Creditors
Acquisition of BPSL
JSW Steel & Lenders
Acquisition should be upheld.
Dissenting Financial Creditors
Acquisition should be quashed.
Liquidation of BPSL
JSW Steel & Lenders
Liquidation detrimental to BPSL, a profitable enterprise.
Dissenting Financial Creditors
Liquidation is the necessary outcome.
- Company in Dispute
- Bhushan Power & Steel Ltd (BPSL)
- Petitioner
- JSW Steel Ltd
- Initial Acquisition
- ₹19,350 crore in 2021
- Previous Court Decision
- Quashed acquisition and ordered liquidation.
- Hearing Date
- July 29
- JSW Steel Production Increase
- From 2.3 to 4.5 MTPA
- JSW Steel Sales Increase
- From ₹8,701 crore to ₹25,973 crore