<ul><li>The Supreme Court has ordered a status quo on Bhushan Power, allowing JSW Steel to file a review petition against the rejection of their ₹19,700 crore resolution plan.</li><li>The court directed the National Company Law Tribunal to keep the matter pending until a decision is made on the review plea, maintaining the existing condition of the case.</li><li>JSW Steel has been given time to file the review petition within the prescribed 30-day limitation period, with expectations of a positive outcome for the company.</li><li>Following the rejection of JSW Steel's resolution plan for Bhushan Power, the Court ordered the liquidation of BPSL under the Insolvency and Bankruptcy Code, with former promoter Sanjay Singal urging NCLT to enforce the Supreme Court's order for liquidation.</li></ul>

SC’s status quo on Bhushan Power offers relief for JSW Steel

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