Supreme Court Orders ED to Return Bhushan Power Assets to JSW Steel

The SC ordered the ED to return BPSL-attached assets worth ₹4,025 crore to JSW Steel, following its successful resolution under the IBC.

The ED had attached the assets under Section 5 of the PMLA, alleging fraud by BPSL's promoters. However, the ED dropped its appeal after acknowledging Section 32A of the IBC, which provides immunity to assets once a resolution plan is approved.

The Court emphasized that its order was specific to this case and would not serve as a precedent for future cases. The ED retained its right to continue investigations against the former promoters of BPSL.