JSW to move review petition against Bhushan Steel judgment before July 14

Lenders of BPSL had on May 13 indicated before the NCLT Delhi that they may prefer a fresh insolvency process for the company rather than sending it for liquidation

Sajjan Jindal-promoted JSW Steel is set to file a petition seeking review of the Supreme Court judgment scrapping its acquisition of debt-laden Bhushan Power and Steel (BPSL) before the court reopens after summer recess on July 14. The firm is currently drafting the petition, people in the know said.

 

On Monday, BPSL lenders, including  State Bank of India (SBI) and Punjab National Bank (PNB), filed review petitions against the same judgment.

 

A review petition, filed to review a court’s order, must be filed within 30 days of the judgment or order. However, vacation days of the court are not included