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Bhushan Power & Steel's promoters pitted against creditors at India's top court review

By Freny Patel ( August 11, 2025, 00:01 GMT | Insight) -- India's top court is re-hearing its decision on the Bhushan Power and Steel insolvency case, pitting former promoters against creditors. Last week, the promoters argued for a new insolvency process, citing the acquirer, JSW Steel, having failed to meet its financial commitments, thereby delaying payment. In contrast, the Committee of Creditors asserted that the Insolvency and Bankruptcy Code is a "creditor-driven" process and that the promoters, who face criminal charges, have no standing to interfere. The Supreme Court of India will continue to hear the matter Monday afternoon.In a dramatic showdown at India's top court last week, the former promoters of Bhushan Power and Steel clashed with the company's creditors over who has the right to determine its future....

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