The Supreme Court in India is scheduled to review the petitions provided by JSW Steel and Bhushan Power and Steel Ltd. (BPS) in an open court session on July 31, 2025. Relatives challenge the previous court’s decision that stopped obtaining JSW from BPSL and ordered to rid them, indicating violations of approval and banks (IBC).
On May 2 of the Supreme Court, the ruling described the JSW acquisition plan as “illegal” and “in a serious violation” of IBC, which prompted JSW and the C creditors (COC) to search for a review. This decision directed the National Company’s Law Court (NCLT) to start liquidation procedures against BPSL, although this court had been subsequently stopped by the Supreme Court.
On June 25, 2025, JSW Steel presented a petition with other affected parties, including COC and decision -making, against May. The Supreme Court initially determined these petitions to attend a room session on July 29, where she decided to allow a hearing in the open court. The court order, “1. The request (requests) to include a broad (broad) review in the open court and apply the oral hearing.
The Supreme Court seat, which will hear sits in India, BR GAVAI and Justice Satish Chandra Sharma. The session is scheduled to start at 3:00 pm on Thursday.
JSW Steel is represented by senior defenders, including Neeraj Kishan Kaul and Mr. Gopal Jain, with the support of the legal team of Karanjawala & Co. The lenders and creditors represent Tushar Mehta, a general lawyer in India, and S. Shroff for decision professionals.
The Supreme Court review is expected to provide clearly regarding the balance of acquisition plans under IBC, especially with regard to foreign investments and liquidation of assets in insolvency procedures.
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