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of <h1>JSW Steel's Resolution Plan Rejected: Bhushan Steel Faces Liquidation Due to IBC Provision Violations and Procedural Errors</h1> A Supreme Court bench rejected JSW Steel's resolution plan for Bhushan Steel and Power, ordering its liquidation. The court criticized key stakeholders for violating Insolvency and Bankruptcy Code provisions. The resolution professional failed statutory duties, and the Committee of Creditors approved the plan without proper commercial wisdom. The court set aside previous NCLT and NCLAT orders and directed liquidation proceedings under the IBC.
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