SC Reinstates JSW Steel’s BPSL Plan, Saving 25,000 Jobs
The Supreme Court on July 31, 2025, reversed its May 2 order that had quashed JSW Steel’s resolution plan for Bhushan Power & Steel Limited (BPSL). The court’s decision came after concerns were raised about the potential legal ramifications and the impact on the livelihoods of approximately 25,000 BPSL employees.
The original resolution plan, approved by creditors and relevant tribunals, involved substantial investments aimed at reviving the ailing steel giant. This plan was crucial for the company’s financial stability and future operations.
The Supreme Court’s reconsideration highlights the delicate balance between upholding legal principles and safeguarding the interests of thousands of workers and the national economy. The reinstatement of the plan is a significant relief for JSW Steel and its workforce, ensuring the continuation of a vital industrial enterprise. The decision also underscores the importance of considering the broader socio-economic implications when adjudicating on such crucial corporate restructuring cases.
