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Supreme Court to Hear JSW Steel’s Review of Bhushan Power Takeover on July 31

Thursday’s hearing will determine if the court’s May ruling that voided JSW’s takeover plan remains in force.

Relief for JSW Steel: SC to hear review pleas in BPSL case in open court on July 31

Overview

  • The hearing will be conducted by a bench led by Chief Justice B. R. Gavai and Justice Satish Chandra Sharma.
  • JSW Steel, the committee of creditors and the resolution professional filed review petitions on June 25 against the Supreme Court’s May ruling.
  • The May verdict invalidated a ₹19,700 crore resolution plan and ordered liquidation of Bhushan Power and Steel, but liquidation has been stayed since May 26.
  • Lenders hold more than ₹30,000 crore in exposure to Bhushan Power and Steel, and worker protests in Odisha underscore the urgency of the outcome.
  • The court’s decision could redefine legal standards for acquisition plans and creditor rights under India’s insolvency framework.