JSW Steel Files Review Petition In SC On Bhushan Power Order

JSW Steel Ltd. has filed a review petition in the Supreme Court against its May 2 order that set aside the company's resolution plan for Bhushan Power and Steel Ltd., the company said in an exchange filing on Wednesday.

The top court had ruled that the resolution plan was illegal and should not have been approved by the committee of creditors, directing liquidation of the debt-laden company.

JSW Steel had earlier moved the Supreme Court to stay the liquidation proceedings before the National Company Law Tribunal until all legal options were exhausted. On this plea, the court had ordered a status quo on the NCLT proceedings until the review petition is heard and decided.