JSW Steel Limited has informed regarding Disclosure of material issue- Hon'ble Supreme Court Rejects JSW Steel's Bhushan Power and Steel Resolution Plan
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The Hon'ble Supreme Court of India pronounced a judgment on May 2, 2025 rejecting the Resolution Plan submitted by JSW Steel for Bhushan Power and Steel. This plan had previously been approved by the NCLAT. JSW Steel has not yet received the formal copy of the order and is waiting to understand the detailed grounds for rejection. The company will review the order with its legal advisors before deciding on its next course of action. JSW Steel has committed to keeping the stock exchanges updated on further developments.
This is a negative development for JSW Steel shareholders. The rejection of the Bhushan Power and Steel resolution plan creates significant uncertainty around the acquisition, which was a key strategic asset. The stock may see short-term pressure as investors digest the implications, though the final impact depends on the detailed order and any further legal recourse the company pursues.