Home » Alerts » IBC Update: Supreme Court Declares JSW Steel’s Acquisition of Bhushan Power as Illegal, Orders Liquidation

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In a landmark judgment dated May 2, 2025, the Supreme Court of India annulled JSW Steel’s ₹19,700 crore acquisition of Bhushan Power and Steel Ltd. (BPSL), citing violations of the Insolvency and Bankruptcy Code (IBC). The Court ordered the liquidation of BPSL, emphasizing that the resolution plan failed to comply with mandatory provisions, including Section 29A eligibility and adherence to prescribed timelines.

Our latest Solve-ency update decodes this crucial ruling and its impact on insolvency jurisprudence.

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