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Reversal for the reforms process
Hindustan Times Chandigarh
|May 05, 2025
Supreme Court order on Bhushan Steel threatens credibility of the Insolvency and Bankruptcy Code
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The Supreme Court's decision to reject Jindal Steel Private Limited's (JSPL) 2021 takeover of Bhushan Steel (BSPL) on procedural grounds and order the latter's liquidation should set alarm bells. BSPL's resolution was one of the biggest under the Insolvency and Bankruptcy Code (IBC), one of India's most important economic reforms under the first Narendra Modi government.
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