Mumbai, India – JSW Steel Limited has secured a significant legal victory with the Supreme Court’s order to hand over the attached assets of Bhushan Power Steel Limited (BPSL) to the company.  

The Supreme Court’s decision effectively concludes a long-standing legal battle that began in 2019 when the Enforcement Directorate (ED) attached BPSL’s assets. The NCLAT had previously ruled in favor of JSW Steel, which had acquired BPSL through the insolvency and bankruptcy process.  

This development is a positive outcome for JSW Steel, as it will allow the company to fully integrate BPSL’s assets and operations. The acquisition of BPSL was a strategic move for JSW Steel to expand its market share and strengthen its position in the Indian steel industry.

The Supreme Court’s order is a significant milestone for JSW Steel and underscores the importance of the Insolvency and Bankruptcy Code (IBC) in resolving corporate insolvency cases.