JSW Steel Files Review Petition Against Supreme Court Verdict Directing Liquidation of Bhushan Power

JSW Steel has filed a review petition challenging the Supreme Court’s May 2, 2025, judgment that deemed its ₹19,700 crore resolution plan for Bhushan Power and Steel Ltd. (BPSL) “illegal” and ordered liquidation. 

The court had found violations of Sections 30(2) and 31(2) of the IBC, citing mala fide conduct. JSW argues the judgment violates Article 142 and natural justice, ignores the commercial wisdom of creditors under CoC, and misapplies precedent, threatening thousands of jobs and national economic interests.

The review petition is now before a SC bench.