In what could be the final word on one of India’s longest-running insolvency battles, the Supreme Court will on Friday pronounce its verdict on JSW Steel Ltd’s ₹ 19,700 crore resolution plan for bankrupt Bhushan Power and Steel Ltd (BPSL).

According to the top court’s cause list, a special bench led by Justice B.R. Gavai, along with Justices Satish Chandra Sharma and K. Vinod Chandran, will deliver the ruling.

Significance for IBC

The outcome will determine whether JSW Steel retains control of BPSL or if the company is pushed into liquidation—a move that could have wide implications for the Insolvency and Bankruptcy Code (IBC) framework.

The review plea arose after the Supreme Court’s 2 May ruling quashed JSW Steel’s resolution plan and ordered the liquidation of BPSL.

That order ma

See Full Page