The Supreme Court docket of India is ready to evaluate petitions filed by JSW Metal and lenders of Bhushan Energy and Metal Ltd. (BPSL) in an open court docket session on thirty first July 2025. The petitions problem a earlier court docket determination that halted JSW’s acquisition of BPSL and ordered its liquidation, citing violations of the Insolvency and Chapter Code (IBC).
The Could 2 judgment by the Supreme Court docket had labelled JSW’s acquisition plan as “unlawful” and “in gross violation” of the IBC, prompting JSW and the committee of collectors (CoC) to hunt a evaluate. This determination directed the Nationwide Firm Legislation Tribunal (NCLT) to start liquidation proceedings in opposition to BPSL, though these have been later quickly halted by the Supreme Court docket.
On twenty fifth June 2025, JSW Metal filed a evaluate petition alongside different aggrieved events, together with the CoC and the Decision Skilled, in opposition to the Could ruling. The Supreme Court docket initially scheduled these petitions for a chamber listening to on twenty ninth July, the place it determined to permit an open court docket listening to. The court docket’s order said, “1. Software(s) for itemizing evaluate petition(s) in open Court docket and software for oral listening to are allowed.; 2. Concern discover.; and three. Listing these issues on 31.07.2025 at 03:00 p.m.”
The Supreme Court docket bench that may hear the petitions includes Chief Justice of India B.R. Gavai and Justice Satish Chandra Sharma. The listening to is scheduled to begin at 3:00 p.m. on Thursday.
JSW Metal is represented by senior advocates, together with Neeraj Kishan Kaul and Mr. Gopal Jain, supported by the authorized group from Karanjawala & Co. The lenders and collectors are represented by Tushar Mehta, Solicitor Normal of India, and Shardul S. Shroff for the Decision Skilled.
The Supreme Court docket’s evaluate is anticipated to supply readability on the permissibility of acquisition plans underneath IBC tips, significantly relating to overseas investments and asset liquidation in insolvency proceedings.
