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JSW Steel faces prolonged uncertainty after BPSL setback
Mint Mumbai
|May 07, 2025
Uncharted terrain
JSW Steel Ltd's shares have lost 7% after the Supreme Court rejected its insolvency resolution plan for Bhushan Power & Steel Ltd (BPSL), citing gross violation of provisions of the Insolvency and Bankruptcy Code (IBC) and 'mala fide' intentions on the part of the company. JSW acquired BPSL for ₹19,700 crore in March 2021, which implied a recovery of about 40% for financial creditors.
Dit verhaal komt uit de May 07, 2025-editie van Mint Mumbai.
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