SC blow sends JSW Steel sliding

It's a bad day at the furnace. JSW Steel's dream deal just turned into a legal nightmare. The steelmaker's share price tumbled over 6% on May 2, trading at ₹965 on the BSE, after the Supreme Court delivered a stinging verdict: its ₹19,700 crore acquisition of Bhushan Power and Steel (BPSL) is void. That's not a small glitch. The court called the deal "illegal", ordered BPSL's liquidation, and raised some serious questions about how resolution plans under India's insolvency law are being executed. For JSW Steel, which had already absorbed BPSL's operations into its books, this ruling throws a wrench into everything — from capacity numbers to profits and future growth plans. What triggered the selloff? The immediate reason: a 2021 takeover deal that the Supreme Court says was mishandled. JSW Steel's bid for BPSL was approved under the Insolven