SC orders status quo on liquidation of Bhushan Power as JSW Steel seeks to halt proceedings

The Supreme Court has ordered a status quo on the liquidation of Bhushan Power and Steel Ltd (BPSL) after JSW Steel's plea to halt the proceedings. JSW Steel argued that liquidation would be detrimental to the company and its stakeholders. The company is considering a review under Article 137, requesting a pause on NCLT's liquidation move.

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