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Bond Market News
JSW to File Review Petition On Bhushan Steel & Power Resolution
May 7, 2025
JSW Steel and the Committee of Creditors (CoC) are preparing to file separate review petitions in the Supreme Court regarding the Bhushan Power & Steel case. This move comes ahead of a NCLT hearing on the company’s liquidation scheduled on 14 May. The petitions will reportedly highlight alleged inaccuracies in the Supreme Court’s May 2 ruling, which reversed JSW Steel’s 2019 purchase of Bhushan Power, citing non-compliance with the law. The CoC, led by SBI and PNB, and JSW Steel argue that some court observations—particularly regarding procedural filings by the resolution professional—are incorrect.
JSW Steel’s dollar bonds traded stable with its 3.95% 2027s at 95.1, yielding 6.71%.
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