Don't understand law, we want our jobs protected: Jharsuguda's BSPL plant workers after SC order

FEAR of loss of jobs among workers of a steel plant in Jharsuguda has been growing with every passing day, following the Supreme Court setting aside a resolution plan and ordering liquidation of the unit's original owner, BSPL, earlier this month.

- PBD BUREAU/PTI

The workers, who have been demonstrating in front of the plant for the past several days, said they do not understand legal issues involved in the case, and only want their jobs to be protected.

Not only the plant's employees, but also contractual workers, local vendors, and small traders, are worried a lot, and they held demonstrations at the main gate of the plant, originally owned by Bhushan Power and Steel Limited's (BPSL).

After the BSPL failed to repay a loan of over Rs 47,000 crore, lenders dragged the company to insolvency proceedings and JSW Steel emerged as the successful bidder for BSPL.

The Supreme Court on May 2, however, set aside a resolution plan submitted by JSW Steel for BSPL, holding it illegal and in violation of the Insolvency and Bankruptcy Code (IBC).