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JSW Steel's 2018 acquisition of Bhushan Power deemed illegal by India's top court

By Freny Patel ( May 2, 2025, 08:51 GMT | Insight) -- JSW Steel's acquisition of Bhushan Power and Steel, approved by the Indian antitrust watchdog in 2018, was deemed "illegal" by the country's top court today, which directed the liquidation of the debt-ridden target. JSW Steel confirmed that the Supreme Court of India rejected the 197-billion rupee ($2.37 billion) resolution plan for Bhushan Power and Steel, but it is still waiting for a formal copy of the order before deciding on its future course of action.JSW Steel's acquisition of Bhushan Power and Steel, approved by the Indian antitrust watchdog in 2018, was deemed "illegal" by the country's top court today, which directed the liquidation of the debt-ridden target....

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