Supreme Court Reopens Bhushan Steel Case: Review Pleas to Be Heard in Open Court on July 31

The Supreme Court agreed to hear review petitions challenging its May 2 judgment that quashed JSW Steel’s resolution plan for Bhushan Steel and Power Ltd (BSPL), declaring it illegal under the Insolvency and Bankruptcy Code (IBC).

A bench led by Chief Justice B.R. Gavai and Justice Satish Chandra Sharma allowed the request for an open-court hearing and oral submissions. 

The matter is now scheduled for a detailed hearing on July 31 at 3 PM. 

The decision marks a crucial development in the high-stakes corporate insolvency battle.

[Punjab National Bank & Anr v Kalyani Transco & Ors]