Supreme Court upholds JSW Steel’s Rs 19,700 crore takeover of BPSL, rejects challenges by former promoters

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The Supreme Court upheld JSW Steel’s ₹19,700-crore resolution plan for Bhushan Power and Steel, affirming the commercial wisdom of the Committee of Creditors. The court dismissed objections from former promoters and creditors, emphasizing that reopening claims post-approval would violate the IBC. This decision followed earlier liquidation orders and rehearings concerning EBITDA accrual and delay-related interest claims.

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Supreme Court upholds JSW Steel’s Rs 19,700 crore takeover of BPSL, rejects challenges by former promoters

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