SC strikes down JSW's deal, orders liquidation of Bhushan Steel & Power

The Supreme Court has annulled JSW’s acquisition of Bhushan Power & Steel, mandating its liquidation due to legal and regulatory breaches. The court dismissed JSW’s Rs 19,700 crore proposal, emphasizing delayed payments and a lack of good faith. It criticized the resolution professional for failing in their responsibilities and the committee of creditors for not safeguarding the interests of creditors, adversely affecting public sector banks.

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