JSW Steel on Friday welcomed the Supreme Court’s decision of upholding its resolution plan for Bhushan Power and Steel, saying the verdict has reinforced the integrity and sanctity of the Insolvency and Bankruptcy Code (IBC) Earlier, in the day, the Supreme Court upheld JSW Steel’s Rs 19,700 crore resolution plan for debt-ridden Bhushan Power and Steel Limited (BPSL), bringing down curtains to a prolonged legal battle that spanned nearly eight years.

A bench comprising Chief Justice B R Gavai and Justices Satish Chandra Sharma and K Vinod Chandran upheld the February 17, 2020, verdict of the National Company Law Appellate Tribunal (NCLAT).

The NCLAT had allowed JSW Steel to acquire BPSL for Rs 19,700 crore by providing it immunity from prosecution by the Enforcement Directorate.

In a fi

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