In a win for JSW Steel Ltd, the Supreme Court has approved the company's ₹ 19,700 crore plan to take over bankrupt Bhushan Power and Steel Ltd, marking the end of one of India’s longest-running insolvency battles.

The court rejected a challenge from dissenting creditors, saying the decisions of the committee of creditors (CoC) must be respected under the Insolvency and Bankruptcy Code (IBC).

Immediately following the Supreme Court's ruling, shares of JSW Steel were up 0.39% at ₹ 1,153.55 apiece on NSE.

The bench had reserved its order on 11 August after rehearing the case following review pleas filed by JSW Steel and lenders against the Supreme Court’s 2 May ruling, which had quashed the resolution plan and ordered liquidation. That decision forced lenders to return ₹ 19,350 cro

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