JSW Steel Gets Relief in ₹702 Cr Mining Case, But Faces Major Setback in Bhushan Power Deal

has received a breather as the ₹702-crore mining demand raised over alleged violations at its iron ore mines in Narayanposhi, Jajang, Nuagaon, and Gonua has been set aside by the revisionary authority. The case linked to issues like lower ore grade, deviation from the approved mining plan, and screening mesh size has now been remanded to the Odisha government with instructions to re-examine the matter after giving the company a fair hearing. However, on the same day, JSW Steel faced a major blow as the Supreme Court cancelled its ₹19,700 crore resolution plan for Bhushan Power and Steel, citing improper funding structure and delay in execution. The court ruled that the plan approved by the Committee of Creditors should not have been allowed, and instead ordered the liquidation of Bhushan Power. These two legal developments reflect both regulatory challenges and judicial scrutiny confronting India’s steel major. Disclaimer: This post is for informational purposes only and not a recommendation to buy or sell any securities. I, or my family, associates, or relatives, may have a financial interest in the securities mentioned.