In a boost to corporate resolutions under the Insolvency and Bankruptcy Code (IBC), the Supreme Court on Friday (September 26) approved Sajjan Jindal-led JSW Steel’s $2.3 billion acquisition of Bhushan Power and Steel (BPSL), reversing its earlier rejection of the deal.

The court also dismissed creditors’ demand for an additional ₹6,100 crore, clearing the way for the long-delayed takeover.

What SC said on Friday

On Friday, the Supreme Court said that JSW had successfully revived Bhushan Power and Steel by investing heavily in modernisation and protecting thousands of jobs, ensuring the company remained a going concern.

The court observed that the core purpose of the Insolvency and Bankruptcy Code (IBC) — turning a loss-making entity into a profitable one — had been fulfilled. It fur

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