💨 Abstract

The Supreme Court recently rejected JSW Steel's resolution plan for Bhushan Power & Steel Ltd., citing procedural lapses and non-compliance with the Insolvency and Bankruptcy Code (IBC). The court overturned a Rs. 19,700 crore plan approved by the NCLT and upheld by NCLAT, ordering liquidation instead.

Courtesy: theprint.in

Summarized by Einstein Beta 🤖