Banks raise red flags over IBC after Supreme Court strikes

The Insolvency and Bankruptcy Code (IBC) is facing renewed scrutiny after the Supreme Court struck down JSW Steel’s ₹19,700-crore resolution plan for Bhushan Power and Steel. In a meeting with the Parliamentary Committee on Finance, top public sector banks raised serious concerns, warning that the ruling undermines the finality of the insolvency process and could deter future bidders.

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