Non-implementation of resolution plan by JSW for two years is unjustified: SC

Kalyani Transco Vs Bhushan Power And Steel Ltd. & Ors (Supreme Court of India) Supreme Court rejects resolution plan of JSW since Successful Resolution Applicant (JSW) did not implement the Resolution Plan for about two years since its approval by the NCLAT, though there was no legal impediment in implementing the same. Such flagrant violation of the terms of the Resolution Plan, has frustrated the very object and purpose of the Code. Facts- It appears that JSW, which was Respondent No. 2 in the SLP (C) No. 29327-29328 of 2019 filed by the CoC, filed an Application being I.A. No. 47947/202...