Update on Hon ble Supreme Court Order in the matter of Bhushan Power and Steel Limited Resolution Plan
JSWSTEEL · price
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Awaiting price reaction for this filing.
JSW Steel informed stock exchanges that the Supreme Court has allowed the company's review petition against its earlier judgment dated 2 May 2025 in the Bhushan Power and Steel Limited (BPSL) resolution plan matter. By its order dated 31 July 2025, the Court has recalled the original judgment. JSW Steel had acquired BPSL under the insolvency resolution process, and the recalled judgment had created uncertainty around the acquisition. The review order is yet to be uploaded on the Supreme Court website, and the disclosure is subject to this. This follows earlier disclosures by JSW Steel on 2 May, 29 May, 25 June, and 30 July 2025 tracking the case.
Positive for JSW Steel shareholders as the recall of the unfavorable Supreme Court judgment removes a major overhang and uncertainty around the BPSL acquisition and its resolution plan, likely supporting investor confidence in the stock.