In a significant development, the Supreme Court has reversed its order on India’s longest-running insolvency battles. The top court gave a go-ahead to JSW Steel Ltd to acquire Bhushan Power and Steel Ltd (BPSL)in a Rs 20,000 crore deal.

Earlier, the apex court had rejected JSW Steel’s acquisition plan and ordered the liquidation of Bhushan Power and Steel Ltd. (BPSL). Now, JSW Steel will proceed with the acquisition of a deal that was initially approved by lenders and the National Company Law Tribunal (NCLT) in 2019.

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