SC bench was examining review pleas that questioned its May order to liquidate the company; says JSW turned Bhushan Power from a loss-making to a profit-making entity.
Supreme Court verdict is unfortunate, given how few applicants come forward in insolvency cases of this scale—and part of the legislative intention behind the IBC was to rescue businesses.
Tata Steel Ltd takes over insolvent Bhushan Steel Limited at a price of 352 billion rupees. This amount is equivalent to 63 percent of the 560 billion rupees claimed by Bhushan Steel's creditors.
In tactical terms, the shirtless protest was worse than a self-goal. Suddenly, the fiascos of the AI Summit were forgotten, and the Youth Congress’s disruption became the issue.
IAF is fine with accepting the aircraft with 'must-haves', even if some other steps remain pending, which may take at least another year, it is learnt.
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