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The Supreme Court has reserved its verdict on JSW Steel’s ₹19,700 crore resolution plan for Bhushan Power & Steel Limited (BPSL). The three-judge bench, led by Chief Justice B.R. Gavai concluded hearings on August 11, 2025, after examining disputes over payment delays and revenue sharing.
At the heart of the case is whether the EBITDA of ₹3,569 crore earned during BPSL’s insolvency period should be paid to creditors, along with delayed interest exceeding ₹2,500 crore. The Committee of Creditors argues both are due, citing late implementation. JSW Steel contends that EBITDA was never part of the approved resolution plan and blames delays on Enforcement Directorate asset attachments.
This decision is critical for JSW Steel, which regained a hearing opportunity after the Supreme Court recalled its earlier order directing BPSL’s liquidation.
Following the court update, JSW Steel shares saw a mild rise, touching ₹1,059 on the NSE, as investors await the final judgment that could shape the steel major’s expansion plans.
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