Centre, lenders finalise stand on apex court's JSW order

NOT ONLY DID JSW not respect and honour the commitments, the court observed that "on the contrary tried its level best to delay the implementation of the resolution plan without any cogent reason or justification".

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The court said the implementation was delayed by two and a half years after the plan had been approved by the National Company Law tribunal, leaving the "creditors in the lurch". The judges observed that the Committee of Creditors (CoC) had failed to protect the interest of the creditors, taking contradictory stands in court accepting the payments from JSW without any demurrer.