The Supreme Court has upheld the resolution plan for Bhushan Power and Steel Limited (BPSL), dismissing appeals filed by operational creditors. The court’s decision supports the integrity of the Insolvency and Bankruptcy Code (IBC), 2016. JSW Steel played a key role in resolving BPSL, turning it into a profit-making entity. The SC judgement is available on the company’s website.
Supreme Court Ruling on BPSL
The Supreme Court has delivered a judgement regarding the resolution of Bhushan Power and Steel Ltd. (BPSL), specifically addressing a review order dated July 31, 2025. The court has delivered its judgement (SC Judgement) regarding appeals filed by former promoters and certain operational creditors of BPSL.
Dismissal of Appeals
The Hon’ble Supreme Court dismissed appeals filed by the former promoters and some operational creditors. The dismissal reinforces the judgement of the National Company Law Appellate Tribunal dated February 17, 2020.
Impact on IBC Code
The Supreme Court’s ruling is considered a landmark decision, affirming the integrity and sanctity of the Insolvency and Bankruptcy Code (IBC Code), 2016. This decision supports the finality of implemented resolution plans by successful applicants. The ruling acknowledged JSW Steel’s work to turn BPSL into a profit-making company.
Source: BSE
