SC rejects JSW's Bhushan plan

JSW STEEL'S SHARES fell 5.81% to close at ₹970.

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In a statement, the company said it will review the order with its legal advisers once it receives a formal copy of the judgment. Some experts said the company may look at the option of filing a review petition. "We are yet to receive the formal copy of the order to understand the grounds for rejection in detail and its implications. Once we receive the order and are able to review the same along with our legal advisers, we will decide on our further course of action," the JSW statement said.

MS Sahoo, former chairman of the Insolvency and Bankruptcy Board, said while the IBC aims to resolve insolvency cases within strict timelines, this can only happen if all actors -- stakeholders, government, and courts -- play their roles promptly. "It is time that the courts not only enforce timelines but are themselves held to the same time discipline as others," he said.