💨 Abstract

The Delhi High Court has suspended money laundering proceedings against Bhushan Power and Steel Ltd (BPSL), now owned by JSW Steel, in a bank fraud case of Rs 47,204 crore. The court ruled that the company, having undergone a successful resolution process under the Insolvency and Bankruptcy Code, should not be prosecuted for offenses committed before the insolvency process began.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖