SC's JSW-BPSL case rewind: What it means for corporate India
The Supreme Court has hit rewind on the Bhushan Power & Steel Limited (BPSL) liquidation saga.
After spotting legal missteps in its earlier judgment, the court decided on July 31, 2024, to revisit whether BPSL should be liquidated or if JSW Steel's rescue plan deserves another shot.
This case has been dragging on since 2017 and could impact thousands of jobs and a lot of money.
Why the case matters
It's more than just corporate drama—over ₹2,500 crore is at stake, and the outcome could shape how big bankruptcies are handled in India.
Creditors argue that BPSL's old bosses shouldn't get a say after running things into the ground, while former promoters claim JSW didn't follow through with promised funds.
The court now has to decide if financial backers' choices can be challenged even after approval.
If you care about how high-stakes business battles play out—and what it means for jobs and the economy—this is one to watch.