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Informative

Explained| Why Supreme Court Set Aside JSW's Resolution Plan For Bhushan Steel & Power Ltd

Update / Judgement Date

04 May 2025

Source

Taxscan

Author

Team — WCP Legal Desk

Reading Time

1 min read

Insolvency & Bankruptcy Code

The Supreme Court explained its decision to set aside JSW's resolution plan for Bhushan Steel Power, detailing violations of IBC's creditor hierarchy. The comprehensive reasoning emphasizes strict adherence to statutory waterfall mechanisms over commercial compromises that disadvantage certain creditor classes. This landmark judgment reinforces the IBC's structural principles while providing guidance on balancing various stakeholders' interests in complex corporate resolutions.