NewsStocksSupreme Court Allows Open Court Hearing for JSW Steel's Review Petition in Bhushan Power CaseSupreme Court Allows Open Court Hearing for JSW Steel's Review Petition in Bhushan Power Case
By ScanX News Team
The Supreme Court of India has issued an order allowing an open court hearing of JSW Steel's review petition regarding the Bhushan Power and Steel Limited (BPSL) resolution plan. The court has issued a notice on the review petition, allowed applications for listing it in open court, and granted permission for oral hearings. This development follows JSW Steel's filing of a review petition on June 25, 2025, challenging the Supreme Court's judgment from May 2, 2025. The decision potentially allows for a more comprehensive examination of the case and could have significant implications for JSW Steel and the resolution of the BPSL case.
*this image is generated using AI for illustrative purposes only.
JSW Steel , one of India's leading steel producers, has received a significant update in its ongoing legal battle concerning the Bhushan Power and Steel Limited (BPSL) resolution plan. The Supreme Court of India has issued an order allowing for an open court hearing of JSW Steel's review petition.
Background
JSW Steel had previously filed a review petition on June 25, 2025, challenging the Supreme Court's judgment dated May 2, 2025, regarding the BPSL resolution plan. This move came after a series of developments following the initial judgment.
Latest Development
In a noteworthy turn of events, the Supreme Court, through its order dated July 29, 2025, has:
- Issued a notice on the review petition filed by JSW Steel.
- Allowed applications for listing the review petition in open court.
- Granted permission for oral hearings on the matter.
This decision by the apex court signifies a crucial step in the ongoing legal proceedings, potentially allowing for a more comprehensive examination of the case.
Implications
The Supreme Court's decision to allow an open court hearing and oral arguments could have significant implications for JSW Steel and the resolution of the Bhushan Power and Steel Limited case. It provides an opportunity for JSW Steel to present its case more extensively before the court.
Company's Disclosure
JSW Steel, in compliance with Regulation 30 of the Securities and Exchange Board of India (Listing Obligations and Disclosure Requirements) Regulations, 2015, has promptly informed the stock exchanges about this development. The company's disclosure demonstrates its commitment to transparency and adherence to regulatory requirements.
Looking Ahead
As the case progresses, stakeholders will be keenly watching the developments in this high-stakes matter. The outcome of this review petition could have far-reaching consequences for JSW Steel and potentially impact the broader landscape of corporate resolutions under the Insolvency and Bankruptcy Code in India.
Investors and industry observers are advised to stay tuned for further updates as this legal battle unfolds in the Supreme Court.
Historical Stock Returns for JSW Steel
| 1 Day | 5 Days | 1 Month | 6 Months | 1 Year | 5 Years |
|---|---|---|---|---|---|
| -1.96% | +0.09% | -0.17% | +10.01% | +9.98% | +366.02% |
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