The Supreme Court has upheld the review petition filed by the lenders and JSW Steel in the Bhushan Power and Steel acquisition and overturned its own verdict, clearing the acquisition of BPSL by Sajjan Jindal-led JSW Group.

Earlier, the Apex Court had rejected the ₹19,7000 crore resolution application of JSW Steel citing discrepancies in the way the deal was approved by NCLT and executed by JSW Steel.

Akshat Khetan, Founder AU Corporate Advisory and Legal Services, said the Supreme Court’s nod to JSW’s acquisition of BPSL was both a reaffirmation and a reminder.

“It reaffirms the sanctity of commercial wisdom and provides much needed closure to a drawn out insolvency saga, securing the interests of creditors, employees and investors alike,” he said. “At the same time, it reminds all sta

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