JSW Steel files review petition before SC on Bhushan Power deal collapse

Indian steelmaker JSW Steel said on Wednesday it has filed a review petition before the country's top court, related to the rejection of its $2.3 billion takeover of Bhushan Power and Steel (BPSL).

Early last month, the Supreme Court of India rejected JSW Steel's resolution plan to acquire BPSL and ordered its liquidation, four years after the takeover was completed.

On May 26, the court halted the liquidation proceedings of BPSL after JSW Steel and some creditors of BPSL told the Supreme Court that they will be filing a review petition against the order.