India–US Trade Tensions Rise Over Steel and Auto Tariffs NMDC Limited reports a 38% drop in Q4 FY24 consolidated net profit RINL to Raise $23 Million Through Land Sales Amid Crisis
The Supreme Court of India has given its final approval to JSW Steel’s ₹19,700-crore acquisition of Bhushan Power & Steel Ltd (BPSL), bringing an end to one of the country’s longest-running insolvency disputes.
A three-judge bench led by Chief Justice B.R. Gavai upheld JSW Steel’s resolution plan, dismissing appeals filed by financial creditors and other stakeholders seeking additional compensation. The court observed that reopening settled insolvency cases would undermine the Insolvency and Bankruptcy Code (IBC) framework and delay resolution processes.
The acquisition, originally approved by the National Company Law Tribunal (NCLT) in 2020, had been delayed for nearly four years due to litigation involving claims on revenue earned during the transition period and alleged irregularities in valuation.
With the verdict, JSW Steel can now fully integrate Bhushan Power’s operations, adding nearly 3.5 million tonnes per annum (MTPA) to its crude steel capacity — a 65% increase in overall production capability.
The decision marks a major milestone in India’s ongoing insolvency reforms, providing clarity to lenders, investors, and companies on the finality of court-approved resolution plans under the IBC framework.v
Also Read : India’s Steel Consumption Expected to Grow 9–10% in FY26: Steel Secretary Steel Industry Seeks Reforms in Standards, Green Steel, and GST
The passenger vehicle (PV) domestic wholesale (dispatches to dealers) segment grew by 13.57% year-on...
Automobiles 15-Feb-2024
India proposes retaliatory tariffs on 29 U.S. products. Move counters U.S. duties on Indian steel a...
Business 13-May-2025
China’s Iron Ore Imports Rise in June Despite Steel Market Struggles China’s iron ore i...
China 19-Jun-2025
Union Minister of Railways, Communications and Electronic and Information Technology, Ashwini Vaishn...
Construction 11-Jan-2024
SAIL Powers INS Arnala with Indigenous Steel The Steel Authority of India Limited (SAIL) has suppli...
Announcement 19-Jun-2025
Vedanta Ltd, an Indian metals-to-oil conglomerate, will no longer add coal-fired capacity, according...
Large Corporate 22-May-2024