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SC strikes down JSW’s deal, orders liquidation of Bhushan Steel & Power – The Times of India

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SC strikes down JSW’s deal, orders liquidation of Bhushan Steel & Power – The Times of India


NEW DELHI: Supreme Court on Friday quashed the acquisition of bankrupt Bhushan Power & Steel Ltd by JSW under the Insolvency and Bankruptcy Code and ordered liquidation of the debt-ridden company, in a blow to the Sajjan Jindal-led group and public sector banks, reports Amit Anand Choudhary.
The court said there were multiple violations of law and regulations in accepting JSW’s Rs 19,700 crore plan and held that the resolution professional “utterly failed to discharge his statutory duties” and the committee of creditors, largely comprising lenders, “failed to exercise its commercial wisdom” and protect the interest of creditors.
The bench accepted the submission that there was “a dishonest and fraudulent attempt” by JSW by misusing the court process, not making upfront payments after its plan was approved.
There was an entire spectrum of flaws in JSW’s resolution plan: SC
A bench of Justices Bela M Trivedi and Satish Chandra Sharma set aside the National Company Law Appellate Tribunal (NCLAT) order approving JSW’s Rs 19,700 crore resolution plan.
“There was an entire spectrum of lacunae and flaws in the resolution plan of JSW with regard to non-compliance of the mandatory requirements under IBC. The upfront payments as agreed to be made in the resolution plan within 30 days of the approval of the plan by National Company Law Tribunal (NCLT) was delayed by 540 days in respect of payment to the financial creditors and by 900 days in respect of payment to the operational creditors,” the bench said.
JSW’s actions faced severe criticism. “Instituting vexatious and frivolous litigations in NCLT or NCLAT and delaying the implementation of resolution plan under the garb of pendency of proceedings has clearly proved the mala fide and dishonest intention on the part of JSW, in firstly securing highest score making misrepresentation before CoC and then not implementing the same under the garb of pendency of proceedings, though the resolution plan was supposed to be an unconditional one,” the bench said.
In 2017, Punjab National Bank had initiated insolvency action. In Sept 2019, NCLT had approved JSW’s resolution plan, and in Feb 2020, NCLAT had passed its order on a batch of petitions filed against the order. The admitted claims of financial creditors, led by SBI, was to tune of Rs 47,000 crore.





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No more mail, imports or ships from Pak: India slaps slew of bans amid rising tensions | India News – The Times of India

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No more mail, imports or ships from Pak: India slaps slew of bans amid rising tensions | India News – The Times of India


NEW DELHI: India on Saturday announced a series of sweeping punitive measures against Pakistan, halting all imports, suspending mail services, and denying port access to Pakistani vessels with immediate effect.
The move marks a sharp escalation following the April 22 terror attack in Pahalgam that killed 26 people, most of them tourists.
A notification issued by the Directorate General of Foreign Trade (DGFT) on May 2, and now incorporated into the Foreign Trade Policy (FTP) 2023, states: “Direct or indirect import or transit of all goods originating in or exported from Pakistan, whether or not freely importable or otherwise permitted, shall be prohibited with immediate effect, until further orders.” Any exemptions will require explicit government approval.
The Department of Posts has simultaneously suspended the exchange of all categories of mail and parcels from Pakistan via air and land routes. A government official said this suspension is in response to “cross-border linkages” identified in the Pahalgam strike and vowed “severe punishment to those involved in the attack.”
India has also barred ships bearing the Pakistani flag from docking at any Indian port. The directive, issued in the interest of national security, also prohibits Indian-flagged vessels from visiting Pakistani ports. “This order is issued to ensure safety of Indian assets, cargo and connected infrastructure, in public interest and for interest of Indian shipping,” the notification reads.
Trade data reveals limited bilateral exchange in recent years. From April 2024 to January 2025, India imported just $2.88 million worth of goods from Pakistan—mainly fruits, nuts, oilseeds, and medicinal plants—while exports stood at $1.18 billion, dominated by organic chemicals and pharmaceuticals. Previous years saw similar trends, with 2022–23 exports at $627.1 million and imports at $20.11 million.
Other major Indian exports to Pakistan have included sugar, cereals, vegetables, tea, petroleum products, fertilisers, and auto parts.





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Miss World contestants to attend IPL match at Hyderabad stadium; updated itinerary of 2025 beauty pageant unveiled

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Miss World contestants to attend IPL match at Hyderabad stadium; updated itinerary of 2025 beauty pageant unveiled


The contestants of Miss World 2025 would watch an Indian Premier League (IPL) match at Rajiv Gandhi International Stadium in Hyderabad either on May 20 or 21. The image is used for representative purposes only.
| Photo Credit: PTI

With just a week to go for the opening ceremony of the 72nd Miss World pageant in Telangana, the State Tourism department has released an updated itinerary outlining the high-profile events planned across the State. 

An updated itinerary of 72nd Miss World pageant to be held across Telangana was released by the State Tourism department

An updated itinerary of 72nd Miss World pageant to be held across Telangana was released by the State Tourism department
| Photo Credit:
BY ARRANGEMENT

The revised schedule features a few key changes from the earlier version announced during a press conference on March 20, including a major addition: contestants from Group 1 would attend an Indian Premier League (IPL) 2025 match at the stadium in Hyderabad either on May 20 or 21.

The IPL games scheduled at the Rajiv Gandhi International Cricket Stadium in Uppal include the Qualifier 1 on May 20 and the Eliminator on May 21. The Miss World contestants would witness one of these matches, adding a sporty twist to their cultural immersion.

Updated itinerary for the contestants representing over 140 countries:

May 6 to 8: The contestants and their delegations would arrive at Rajiv Gandhi International Airport (RGIA), Hyderabad

May 10: The opening ceremony would be held at the Gachibowli Indoor Stadium, showcasing Telangana’s folk and tribal dance performances in a parade-style theme

May 12: Contestants would head to Nagarjunasagar for a spiritual tour of Buddhavanam, a Buddhist theme park

May 13: A heritage walk would be conducted at Charminar and Laad Bazaar, culminating in a tour and welcome dinner at Chowmahalla Palace

May 14: Group 1 would visit the Warangal Fort, 1000 Pillar Temple, and Bhadrakali Temple. Meanwhile, Group 2 would tour Ramappa Temple, a UNESCO World Heritage Site, and witness Perini dance performance

May 15: Group 1 would visit the Yadagirigutta Temple, while Group 2 would explore Pochampally, a UNWTO-recognised handloom village

May 16: Group 1 would attend a medical tourism event in Hyderabad. Group 2 would visit the ancient Banyan tree at Pillalamarri in Mahabubnagar and tour the Experium Eco-Tourism Park

May 17: The Miss World Sports finale would be held at the Gachibowli Indoor Stadium, while a guided tour of Ramoji Film City is also scheduled

May 18: Contestants would visit the Telangana Police Integrated Command and Control Centre (TGICCC) to learn about the State’s safety and tourism initiatives. Later, they would witness a 3D projection mapping show at the Secretariat and participate in the ‘Sunday-Funday’ carnival at Tank Bund

May 20 to 21: Region-specific fast-track ‘Continental Finale’ selections would be held at T-Hub, where contestants would also interact with local entrepreneurs. Group 1 will attend the IPL playoff match, while Group 2 would engage in an arts and crafts workshop with local artisans at Shilparamam

May 22: The talent finale would take place at Shilpakala Vedika

May 23: The head-to-head challenge finale would be held at the Trident Hotel

May 24: The Miss World Top Model Fashion finale and a jewellery/pearl fashion show, along with an interaction with Telangana designers, would be hosted at either the Trident Hotel or Hitex

May 26: The ‘Beauty with a Purpose’ event and gala dinner featuring dance and cultural performances and a Telangana food festival would be held at Hitex

May 31: The Grand Finale, including a red carpet event at 5:30 PM and the coronation gala from 10 p.m to 1 a.m, will take place at Hitex

June 2: The newly crowned Miss World and winners of other titles will conclude their journey with a formal meeting and high tea with the Governor and Chief Minister of Telangana at Raj Bhavan on the occasion of Telangana State Formation Day



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Special buffets for festive season in Coimbatore: With butterfly pea fried rice, tikkas and keema kebabs

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Special buffets for festive season in Coimbatore: With butterfly pea fried rice, tikkas and keema kebabs


Easter egg cookies
| Photo Credit: Special Arrangement

There’s a festive buzz in the air as you step into Urban Bar-B-Que on a Sunday afternoon. While an Easter bunny stares out of a watermelon carving, a live one in a costume distributes colourful Easter eggs to children, smiling ear to ear. As we settle down, it’s a platter of colourful, juicy and delicious kebabs, arranged in a live skewer at the table that grabs our attention.

Festive decor

Festive decor
| Photo Credit:
Special Arrangement

In basil heaven

While meat lovers dive into grilled fish, prawns in gochujang sauce, and mutton keema kebabs, vegetarians relish succulent mushroom chimichurri and basil paneer tikka that is crisp and has flavours of fresh basil. A live counter doles out fluffy appam and stew and there is also roasted chicken with accompaniments like mashed potatoes and cranberry sauce to ring in the festive cheer. “Most of our festive buffets feature as many as 60 items. It is multi-cuisine starting with a welcome drink and served course by course. Vegetarian and non-vegetarian starters are served at the table. Buffet begins with two soups, salads, main course, and gravies,” explains A Swaminathan, F & B Manager. At the dessert counter, there are chocolate fountain and ice golas, and silky elaneer payasam, a big draw among children.

A live bunny cheering up children

A live bunny cheering up children
| Photo Credit:
Special Arrangement

Season’s special

Be it Halloween, thanksgiving, Tamil New Year or Holi, the restaurant whips up a festive buffet spread with preparations now underway for the upcoming mango mania.

“As mangoes are in season, we want to offer mango treats to our diners. There will be a line up of mango cham cham, mango sandwiches, and traditional Malabar mango curry and more,” says Swaminathan adding that there’s a festive menu every two months as we being our meal with the spicy mutton bone soup that is light on the tummy.

Sous chef P Chandrahasan talks fondly of chicken cafreal. Chicken is marinated in a green cafreal masala that is aromatic, spicy, delicious and tangy all at once. “It’s a Goan dish and fresh coriander leaves give it a special edge. Our Kentucky fried egg is a play on devilled eggs,” he says as we try the beautifully-coloured butterfly pea fried rice. “We distil blue pea flowers and use the water to boil the rice to get the colour,” says Chandrahasan adding that his signature dishes are biryani varieties including the flavourful jackfruit biryani that is on the menu. While paneer nawabi is rich and creamy, the saiva kolaurundai kuzhambu is lip-smakcing curry that goes well with white rice.

Flavourful kebabs

While the Anglo-Indian beef curry and rose rasamalai flavoured with distilled rose petals are added particularly to the festive menu, the regular buffet menu has a limited number of items. However, kebabs are a constant. Also, the amchur pudina and grilled pineapple dips. Chef Jayakumar Bhuyan, barbecue in-charge, talks of the mutton sheek and chapli kebabs, his speciality.

A live counter doling out roasted chicken with cranberry sauce

A live counter doling out roasted chicken with cranberry sauce
| Photo Credit:
Special Arrangement

“Made with beaten ground mutton, this simple and easy to make kebab tastes like it’s from an Afghani restaurant,” says Bhuyan, smiling as he talks of his another speciality, the juicy cilantro chicken. “We use a variety of sauces including barbecue, Cajun, oyster, and the Korean gochujang sauce to bring in the flavours. We source our meat fresh which gives the dish an edge,” explains Bhuyan. The chicken drumstick with peri peri sauce, is a case in point when it comes to packing a punch. So is honey-glazed pineapple.

Urban Bar-B-Que is located at Jenney’s Residency, Avinashi Road. The buffet costs ₹1000 approximately. Prices vary over the weekends. For reservations, call 9500529333.



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