JSW Metal on Thursday (July 31, 2025) bought reduction from the Supreme Courtroom within the matter of the liquidation of Bhushan Energy and Metal.
The Apex Courtroom withdrew its personal choice delivered on Could 2.
The order was given for liquidation of Bhushan Energy and Metal
The corporate was acquired by JSW beneath the revival plan of Rs 19,700 crore.
A bench headed by CJI BR Gavai mentioned that the Supreme Courtroom can not use its energy beneath Article 142 to do injustice to 25,000 staff of a revived firm
The Supreme Courtroom will hear the case subsequent on August 7
In an order handed on Could 2 this 12 months, a bench of Justices Bela M. Trivedi and SC Sharma ordered the liquidation of BPSL, holding that JSW Metal’s Rs 19,300 crore decision plan for the bankrupt firm was not in consonance with the provisions of the Insolvency and Chapter Code (IBC), 2016.
(With inputs from ANI)
