JSW Steel Limited has officially submitted a review petition before the Hon’ble Supreme Court (SC) in connection with its earlier judgment dated May 2, 2025, regarding the resolution plan for Bhushan Power and Steel Limited (BPSL). This latest filing, made on June 25, 2025, follows 2 previous disclosures concerning the matter.
In its ruling on May 2, the SC dismissed JSW Steel’s resolution plan for BPSL and directed its liquidation, 4 years after BPSL was acquired by JSW Steel under the Insolvency and Bankruptcy Code.
In a filing with the stock exchanges, the company stated that it submitted a review petition to the Supreme Court on June 25, regarding the judgment issued on May 2.
Lenders of BPSL, such as State Bank of India and Punjab National Bank, have already filed their own review petitions against the ruling.
By filing a review petition, JSW Steel seeks a legal re-evaluation of the court’s ruling. This move signals that the company remains committed to its stance regarding the Bhushan Power resolution process, one of India’s most significant corporate insolvency cases under the Insolvency and Bankruptcy Code (IBC).
The outcome of this petition could influence future participation by corporate entities in distressed asset resolutions, especially when higher judiciary rulings affect previously approved plans.
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On June 26, 2025, JSW Steel share price opened at ₹1,030.00 on NSE, above the previous close of ₹1,024.45. During the day, it surged to ₹1,033.00 and dipped to ₹1,027.05. The stock is trading at ₹1,032.45 as of 9:17 AM. The stock registered a moderate gain of 0.78%.
Over the past week, it has moved up by 2.68%, over the past month, it has moved up by 2.61%, and over the past 3 months, it has declined by 2.27%.
JSW Steel’s review petition in the Supreme Court highlights the ongoing legal developments in the Bhushan Power resolution case. As the matter progresses through judicial review, it continues to hold relevance for both legal and financial stakeholders tracking large-scale corporate debt restructuring in India.
Disclaimer: This blog has been written exclusively for educational purposes. The securities or companies mentioned are only examples and not recommendations. This does not constitute a personal recommendation or investment advice. It does not aim to influence any individual or entity to make investment decisions. Recipients should conduct their own research and assessments to form an independent opinion about investment decisions.
Investments in securities are subject to market risks. Read all related documents carefully before investing.
Published on: Jun 26, 2025, 11:41 AM IST
Team Angel One
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